Us mortgage rates fell slightly to 6.71% after climbing for three weeks.

[us mortgage rates fell slightly to 6.71% after climbing for three weeks] FAP, June 9, US mortgage rates fell for the first time in four weeks. Freddie Mac said in a statement on Thursday that interest rates on 30-year fixed mortgages averaged 6.71%, down from 6.79% last week. It is usually the busiest season for the u.s. housing market, and mortgage rates of around 7% are prohibitive to potential buyers. Last week, the index of home loan applications fell to its second lowest level since 1995, according to the Mortgage Banking Association. Demand is falling short of supply in many areas, pushing up prices.