Mortgage rates fell slightly this week with the average 30-year fixed-rate mortgage declining to 6.72%, down from an average of 6.74% last week, according to Freddie Mac’s weekly survey released Thursday. The 30-year rate is virtually unchanged from the same week one year ago when it averaged 6.73%.

Freddie Mac also recorded a slight decline in the 15-year fixed-rate mortgage, which dropped to 5.85% this week, down from last week’s average of 5.87%. The 15-year rate averaged 5.99% one year ago.

“The 30-year fixed-rate mortgage showed little movement, remaining within the same narrow range for the fourth consecutive week,” said Sam Khater, Freddie Mac’s chief economist. “Continued economic growth, along with moderating house prices and rising inventory, bodes well for buyers and sellers alike.”

Home buyers probably shouldn’t expect mortgage rates to drop much in the near future. The Federal Reserve on Wednesday chose to keep the benchmark overnight lending rate between 4.25% and 4.5% for the time being. The rate has an indirect influence on mortgage rates, which are tied to 10-year Treasury yields.

At the same time, inflation appears to be on the rise. Personal consumption expenditures, one of the Federal Reserve’s preferred inflation measures, rose 0.3% in June from May’s level to an annual rate of 2.7%, before seasonal adjustments. These results could signal that inflation is heating back up. Fed Chair Jerome Powell also said this week that President Donald Trump’s tariffs are just starting to be felt and may result in higher consumer prices in the future.