The average rate on a 30-year mortgage in the U.S. has eased for the third week in a row.

Mortgage rates eased again this week, though the latest pullback leaves the average rate on a 30-year home loan at close to 7%, where it’s been much of this year.

The average rate on a 30-year mortgage in the U.S. fell for the second straight week, giving some relief to home shoppers already facing sky-high prices and a shortage of supply.

The average long-term U.S. mortgage rate rose this week for the third time in as many weeks, driving up home loan borrowing costs in just as the spring homebuying season ramps up.

The average long-term U.S. mortgage rate rose this week to just under 7%, the latest setback for would-be homebuyers already facing affordability challenges due to a housing market limited by a shortage of homes for sale.

The average long-term U.S. mortgage rate inched down this week to its lowest level in six weeks, just as the spring buying season gets underway.

The average long-term mortgage rate in the U.S. ticked back down this week following several weeks of increases.

A home for sale is seen Tuesday, Dec. 8, 2020, in Orlando, Fla. U.S. long-term mortgage rates declined this week to new record lows for the first week of 2021. The year opens against the continuing backdrop of damage from the coronavirus pandemic on the U.S. and global economies, which suppressed home loan rates through most of 2020. (AP Photo/John Raoux)WASHINGTON – U.S. long-term mortgage rates declined this week to new record lows for the first week of 2021. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year fixed-rate home loan slipped to 2.65% from 2.67% from last week. Mortgage rates are set to rise modestly this year as economic factors shift, according to Freddie Mac chief economist Sam Khater.