Mortgage rates have been stuck in neutral this week, with the average 30-year fixed rate inching down just a single basis point to 6.74%, according to Freddie Mac’s weekly rate survey released Thursday. The 15-year rate declined by five basis points to 5.87%.

While the slight downward rate movements may not be enough to move the needle for some prospective homebuyers waiting on the sidelines, others may be relieved after two straight weeks of rate increases.

“This week, the 30-year fixed-rate mortgage essentially remained flat at 6.74%,” Freddie Mac Chief Economist Sam Khater said in a statement. “Overall, the backdrop for the housing market is positive as the economy continues to perform well with solid employment and income growth.”

Despite a better-than-expected June jobs report from the U.S. Bureau of Labor Statistics — which saw the unemployment rate fall to 4.1% on the strength of 147,000 jobs created — a recent housing market report paints a gloomier picture.

Zonda reported Tuesday that the new-home market is “stuck in a rut,” citing a 2.2% year-over-year decline in new-home sales in June. The housing market research company also said that “resale activity remains sluggish,” although “consumers are still showing some level of positive responsiveness to builder incentives and/or price cuts.”

Mortgage industry observers will be keeping a close eye on next week’s Federal Reserve monetary policy meeting. While the Fed is widely expected to hold interest rates steady, Fed Chair Jerome Powell’s public comments will be closely parsed for clues regarding the potential easing of borrowing costs.