Early forecasts called for a gradual decline in mortgage rates (potentially reaching 6% by the end of 2025), but concerns over a potential recession and uncertain trade policies h

After jumping to a one-year high less than two weeks ago, 30-year mortgage rates have fallen five of the last seven days and are now down to early-May levels.

Mortgage rates declined slightly but held close to 7% this week. The average rate on the standard 30-year fixed mortgage slipped to 6.85%, according to a survey of lenders by mortgage-finance giant Freddie Mac.