Mortgage Rates Experience Slight Decline

Recent reports show a decrease in 30-year mortgage rates, offering a brief respite for homebuyers.

Rates on 30-year purchase mortgages fell back to 7.16%, marking a slight decrease.
The FHA 30-year mortgage rate dropped to below 7% for the first time in seven weeks.
Mortgage rates are influenced by a variety of factors, including Federal Reserve policies and macroeconomic conditions.
The Federal Reserve maintains its benchmark interest rate, signaling potential rate cuts later this year.
Negotiations on real estate broker commissions could lead to savings for homebuyers this summer.