Mortgage interest rates are consistently declining again. Here are three things homebuyers should do in response.

Americans saw a chance to save a few dollars on their monthly mortgage payments and took it, pushing refinance applications up 40% versus a year ago.

Mortgage rates are up, but still under 7%. Today’s national average on a 30-year fixed-rate mortgage is 6.70%, according to Bankrate. If you choose a 15-year fixed-rate mortgage, the average rate is 5.