Mortgage Rates Drop Slightly But Remain Elevated

Mortgage rates have fallen slightly in recent weeks but remain significantly higher than last year.
The average 30-year fixed rate is around 6.8%, down from nearly 7% last week.
Slowing inflation and easing Treasury yields contributed to the rate decreases.
Home prices remain high and inventory low, presenting challenges for buyers.
The Federal Reserve is expected to continue raising interest rates, which could impact mortgage rates.