Freddie Mac says the average rate on a 30-year mortgage slipped to 6.78% this week, ending a six-week climb

The average rate on a 30-year mortgage in the U.S. edged lower this week, ending a six-week climb. The rate slipped to 6.78% from 6.79% last week, mortgage buyer Freddie Mac said Thursday.

Mortgage rates in the U.S. declined for the first time in seven weeks. The average for a 30-year, fixed loan was 6.78%, down from 6.79% last week, Freddie Mac said Thursday in a statement. That’s still down from a year ago when the rate averaged 7.4%.