The typical rate for a 30-year mortgage in the United States has decreased slightly this week, marking the end of a six-week upward trend.

According to data from Freddie Mac, the average rate has fallen to 6.78%, down from 6.79% recorded the previous week. This figure is significantly lower than the rate from a year prior, which averaged 7.4%.

Additionally, rates for 15-year fixed-rate mortgages, which are favored by homeowners looking to refinance for a better rate, have also seen a decline this week. The average for these loans has decreased from 6% last week to 5.99%. Just a year ago, this rate was at 6.76%, as per Freddie Mac’s analysis.

Various elements influence mortgage rates, including the yield on U.S. 10-year Treasury bonds, which serve as a benchmark for pricing home loans. Recently, there has been an increase in bond yields, driven by positive reports related to inflation and the overall economic landscape.

Last week, expectations surrounding President-elect Donald Trump’s policies—such as tax cuts, increased tariffs, and deregulation—contributed to a rise in bond yields. These policies are seen as potential catalysts for increased government debt and inflation, along with a boost in economic growth.