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Rates on 30-year refinance loans gave up another 3 basis points Tuesday, for a total decline of 27 points over the last nine days. The 30-year refi rate average is currently 6.71% -- its lowest level since Oct. 16.

Although notably improved vs. a January peak of 7.30%, current 30-year refinance rates remain elevated compared to September's plunge to a two-year low of 6.01%.

Rate movement was down for most other refi loan types Tuesday. The 15-year and 20-year refi averages fell 7 and 2 basis points, respectively, while the jumbo 30-year refi average plummeted 13 points.