According to CoinMeta, U.S. mortgage rates have seen their first decline this week after six weeks of increases. Based on data from Freddie Mac, the average rate for 30-year mortgages has dropped from 6.69% last week to 6.67%. This change is mainly due to weak employment data and a slowdown in inflation, which reduces the likelihood of the Federal Reserve raising interest rates next month. Kara Ng, a senior economist from Zillow, stated that the latest employment and inflation data have alleviated the pressure on mortgage rates and provide the Federal Reserve with room to pause any further rate hikes. Nevertheless, Zillow predicts that mortgage rates will only drop to 6.5% by the end of the year.