Refinance rates on 30-year mortgages subtracted 6 basis points for a second consecutive day Wednesday, reducing the national average to 6.71%. That lowers it from a recent two-month high, but it remains 70 basis points above the 19-month low we saw Sept. 16—when the average sank to 6.01%.

As of Oct. 17, according to Credible data gathered from more than 500 U.S. lenders*, the median interest rate on a 30-year fixed-rate mortgage is 6.50%, which is unchanged from yesterday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 5.75%, which is also unchanged from yesterday.

These are today's mortgage and refinance rates. Mortgage rates have eased this week, but we might not see them drop substantially until next year.

The European Central Bank cut interest rates on Thursday for the third time this year, saying inflation in the euro zone was increasingly under control while the outlook for the bloc's economy was worsening.

It means the annual rate prices are rising at is now below the Bank of England's 2% target, paving the way for further interest rate cuts. Lower airfares and petrol prices were the main drivers behind the surprise slowdown,

The European Central Bank cut interest rates again Thursday, upping the tempo at which it is lowering borrowing costs as inflation in the eurozone cools faster than expected and the