Despite a slight rise, 30-year mortgage rates are still hovering near their lowest point since early May. Several other loan types also saw just minor movement.

The average rate on a 30-year mortgage in the U.S. fell this week for the first time in a month, but borrowing costs for homebuyers remain elevated. The long-term rate dipped to 6.85% from 6.89% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.99%.

Home loan applications continue downward dip as mortgage rates hover near 7%, leaving more homes listed for sale.