Today’s average mortgage rate on a 30-year fixed-rate mortgage is 6.85%, down 0.16 percentage point from the previous week, according to the Mortgage Research Center. Borrowers may be able to save on interest costs by going with a 15-year fixed mortgage,

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The average rate on a 30-year mortgage in the U.S. eased for the second week in a row, but remains just below 7%, little relief for prospective home shoppers looking ahead to the spring homebuying season.

Mortgage rates are up just a couple of basis points since last week, keeping them near their post-Christmas low. Rates on new 30-year fixed-rate loans averaged 6.98% on Friday, as compared to the 4-week low of 6.93%. 15-year loans saw their Friday-to-Friday average rise a more sizable 8 basis points, now up to 6.14%.

Freddie Mac reports its Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) averaged 6.95% this week, the same as the previous week.

Freddie Mac’s average rate on a 30-year fixed-rate loan was 6.95% for the week ending January 30, virtually unchanged from a week ago. Elevated rates continue to keep many would-be buyers on the sidelines as housing affordability remains challenging.

Friday, ending the week just a few basis points above their lowest level of the new year. Many other loan types also saw steady averages.