Mortgage rates have dropped to an average 2.91% for a 30-year fixed-rate loan, down from 2.99% a week earlier, mortgage company Freddie Mac reported.

A year ago, the typical rate was 3.58%.

Additionally, After protests from the mortgage bankers and others, the federal agency that regulates Fannie and Freddie said last Tuesday that it would put the additional 0.5% refinance fee on hold until Dec. 1.

If you are thinking about refinancing your home loan, now is the time to get it done. Waiting will cost you extra money.