If you’re not familiar with the ECB, it’s essentially Europe’s version of the Federal Reserve.  Both wield tremendously large balance sheets (used to control supply and demand in rates markets, and thus, rates themselves). While central banks can only truly control the shortest term rates, investors who trade the bonds that drive longer-term rates (like mortgages) are nonetheless paying very close attention.  Bottom line: with the ECB not sending any threating messages about shorter-term rates, longer-term rates were able to relax a bit.

The average lender continues offering conventional 30yr fixed rates in the 4.0-4.125% range for top tier scenarios.  While these aren’t the lowest rates seen all year, they’re still reasonably close