Mortgage rates are down to their lowest level in seven weeks, with the 30-year fixed-rate mortgage averaging 6.60% as of Dec. 12, down from last week’s average rate of 6.69%, according to Freddie Mac’s Primary Mortgage Market Survey. One year ago this week, the rate was 6.95%.

Mortgage rates have been bouncing up and down in recent months due to strong economic news, inflation worries and political uncertainty. But recently, rates have been steadily falling. The 30-year fixed rate has been down for the past three weeks in a row.

The average 15-year fixed-rate mortgage fell 0.15% to 5.84% as of Dec. 12. It was the second straight week of decreases, and — like the 30-year mortgage — the lowest rate level in seven weeks. One year ago, the 15-year mortgage averaged 6.38%.

“The 30-year fixed-rate mortgage decreased for the third consecutive week,” said Sam Khater, Freddie Mac’s chief economist. “The combination of mortgage rate declines, firm consumer income growth and a bullish stock market have increased homebuyer demand in recent weeks. While the outlook for the housing market is improving, the improvement is limited given that homebuyers continue to face stiff affordability headwinds.”