Mortgage rates trickle down, but high prices keep buyers out of the market: Freddie Mac

Prospective homebuyers didn't get much relief on mortgage rates this week, as the average 30-year fixed-rate mortgages barely budged from 6.87 to 6.86%, Freddie Mac reported.

Last year, interest rates weren’t wildly different and averaged 6.71% for 30-year mortgages and 6.06% for 15-year mortgages.

"The 30-year fixed-rate mortgage continues to trend down, hitting the lowest level in almost three months," Sam Khater, Freddie Mac’s Chief Economist said.

"By historical standards...