[Mortgage Rates in the U.S. Slightly Declined Last Week] According to a report by Jinse Finance, on June 5, mortgage rates in the U.S. slightly declined last week as sellers struggled to find buyers willing to accept their asking prices. Data from Freddie Mac shows that the average rate for a 30-year fixed mortgage dropped from 6.53% to 6.48%. A year ago during the same period, the rate was 6.85%. With economic uncertainty driven by the Iran war fueling inflation expectations and keeping mortgage rates elevated, the peak home-buying season is under pressure from high borrowing costs. The growth in inventory is outpacing demand, making it difficult for many sellers across the country to attract bids from buyers. Redfin real estate agent Patricia Ammann stated that the momentum of rising home prices is no longer as strong as it was five years ago, as high gasoline prices and rising living costs make potential buyers less willing to push up home prices.