"This week, mortgage rates decreased to their lowest level in over two months," says Freddie Mac Chief Economist Sam Khater. "The drop in mortgage rates, combined with modestly improving inventory, is an encouraging sign for consumers in the market to buy a home."

Today, the mortgage interest rate on a 30-year fixed mortgage is 6.64%, according to the Mortgage Research Center. On a 15-year fixed mortgage, the average rate is 5.72%, and the average rate on a 30-year jumbo mortgage is 7.

Trump could order the Treasury Department to start buying mortgage-backed securities, like when the Federal Reserve bought roughly $1.45 trillion of MBSs during the Great Recession. That was popularly known as quantitative easing. Buying MBS can reduce mortgage rates by increasing competition and increasing mortgage market liquidity.

These are today's mortgage and refinance rates. Mortgage rates are way down today, but it's unclear if they'll stay this low.

The current average mortgage rate on a 30-year fixed mortgage is 6.63% with an APR of 6.66%, according to the Mortgage Research Center. The 15-year fixed mortgage has an average rate of 5.71% with an APR of 5.