The 30-year mortgage rate average fell back to 7.69%, closer to its two-month low. All other averages dropped or remained unchanged except for the 7/6 ARM rate average, which gained 13 basis points. Rates vary across lenders, so it’s important to shop around for the best mortgage option. The lowest mortgage rates were in Vermont, Delaware, and North Carolina, while the highest were in Minnesota, Oregon, Nevada, and Arizona. Mortgage rates are influenced by factors such as the bond market, Federal Reserve policy, and competition between lenders. The Fed has been tapering its bond purchases and raising the federal funds rate, which has impacted mortgage rates.