Mortgage demand to buy a home and to refinance a loan declined, despite falling interest rates. Weak consumer confidence is the culprit.

Mortgage rates are down and still under 7%. Today’s national average on a 30-year fixed-rate mortgage is 6.86%, according to Bankrate. If you choose a 15-year fixed-rate mortgage, the average rate is 6.

Multiple key refinance rates have declined. Refinance rates change daily, but experts say rates could inch down in the coming months.