Mortgage Rates Inch Lower , Ahead of the Fed's Next , Expected Rate Hike.br The average cost of a long-term br mortgage in the United States has br slipped to its lowest level in four weeks. .br 'The Independent' reports that the news comes br as would-be house hunters face persistently br high prices and near historically-low availability.br On July 20, mortgage buyer Freddie Mac br said that the average rate on a 30-year home br loan dropped to 6.78 from 6.96 the week before.br Average rates at this br time last year were at 5.54.br In early November, rates surged to reach 7.08. .br Two weeks ago, the 10-year Treasury yield climbed br above 4 for the first time since early March.br The yield is used by lenders to price br rates on mortgages and other loans. .br At midday trading on July 20, br the yield was at 3.86.br Since last summer, inflation br has been slowly cooling.br 'The Independent' reports that this has led br economists to expect the Federal Reserve's br next rate hike to be the last of the current cycle.br 'The Independent' reports that this has led br economists to expect the Federal Reserve's br next rate hike to be the last of the current cycle.br Since early last year, the Fed has been aggressively br raising rates to reach its highest level in 16 years. .br 'The Independent' reports that average rates remain br over twice what they were just two years ago.