Mortgage rates drop for second week but remain high compared to last year

In the US, mortgage rates have decreased for the second week, with the 30-year fixed rate at 6.65%. This is a slight drop from 6.67% last week, but still higher than the 6.58% rate from a year ago. The 15-year fixed mortgage rate also fell to 5.95%. Despite this easing, high borrowing costs continue to limit homebuyers' purchasing power.