The average rate on a 30-year fixed mortgage was 6.72% — little changed from a week prior, according to Freddie Mac data.

The average rate on 30-year fixed home loans registered 6.72% for the week ending July 31, barely down from 6.74% last week.

The average rate on a 30-year U.S. mortgage eased to where it was three weeks ago, modest relief for prospective homebuyers challenged by rising home prices and stubbornly high borrowing costs. The long-term rate slipped to 6.