Conventional 30yr fixed mortgage rates hit their lowest levels in months last Tuesday morning, with the average lender right in line with levels from mid October or early December. After that, rates rose steadily for the next two days and leveled off on Friday.

Mortgage rates have fallen more than a quarter of a percentage point (0.25%) since mid-January. The average rate on a 30-year fixed mortgage is around 6.75%, down from 7.13% just six weeks ago, according to Bankrate data.

Homebuyers can breathe a small sigh of relief, as mortgage rates are declining. Freddie Mac data released Thursday showed that “the 30-year fixed-rate mortgage saw the largest weekly decline since mid-September.