Mortgage applications slipped 1.3% in the week ended May 25, according to the Mortgage Bankers Associations’s (MBA) weekly survey. The MBA said on Wednesday, that refinance activity decreased 1.5%, while the number of home purchase applications filed last week was down 0.6% compared with data from a week earlier.

Although, record-low rates so far failed to spark significant demand for mortgages, trends are showing improvements in the long run. Last week, the share of refinance applications made up 76.6% of total applications, while the share of ARMs ticked down to 4.9% from the previous 5.0% a week earlier.

Today’s mortgage rates are a tad lower at a number of top lenders, while at others they remained unchanged. Some interesting economic reports are scheduled to be released in the coming days, that could prove to be game-changers. These reports include the Jobless Claims, ADP Report, Nonfarm Payrolls, and the ISM Manufacturing Index amongst others. Also, we should wait and see, if any resolution will be made to restrain the ongoing debt crisis in the Eurozone, which has a significant impact on US mortgage rates these days.

Browsing through today’s best refinance rates, Bank of America (NYSE:BAC) offers a wide range of home refinancing options at attractive rates. These mortgage loans, include the standard 30-year FRM which currently has an opening rate of 4.000% and an APR figure of 4.151%. With regards to the 15-year fixed counterpart for home refinancing, it begins at 3.375% and bears an APR variable of 3.639% as of Wednesday.

Adjustable rate mortgages have been maintaining an admirable level of consistency over the course of the last few weeks, which is no different today. Refinancers can take advantage of low rates, as the 7/1 ARM starts at 2.875% and has an annual percentage rate of 3.278%. In case of the 5/1 adjustable rate loan, Bank of America advertises this flexible deal for as low as 2.625% plus an APR variable of 3.258%.

Swtiching to Citibank’s (NYSE:C) mortgage interest rates, the current offerings are representing some excellent value, to say the least. The 30-year fixed rate mortgage is being offered at a daily low of 3.875% and amounts to an APR of 4.241%. Regarding the 15-year fixed rate refinance loan, potential takers will encounter a starting rate of 3.250% and an APR figure of 3.813%.

Rounding out the report with Chase’s (NYSE:JPM) current refinance rates, the popular fixed rate loans seems to continue their good run this week. As of Wednesday, Chase’s 30-year fixed rate mortgage can be locked in at a rate of 3.875% which bears an annual percentage rate of 3.989%. For those refinancers, that prefer shorter-term loans, the 15-year FRM will be a more suitable choice. The aforementioned mortgage loan carries 3.000% in interest and 3.162% by way of APR variable.

Refinancing an existing mortgage with the help of an adjustable rate loan may be also an option for some borrowers. Chase is offering the 7/1 ARM at a rate of 2.625% which comes with an APR figure of 3.078%. The 5/1 ARM remains attractive as well, as the asking rate is floating around 2.375% plus an APR of 3.070%.