Mortgage rates in the US continued their slide, dropping to the lowest level since June and bolstering hopes for a housing rebound in the new year.

The average for a 30-year, fixed loan was 6.67%, down from 6.95% last week, Freddie Mac said in a statement Thursday.

Borrowing costs have fallen each week since peaking at 7.79% in late October. The decline is welcome news for would-be homebuyers who’ve been postponing purchases in one of the least-affordable housing markets on record. Many economists expect demand for homes to increase and mortgage rates to slip further as the Federal Reserve winds down its inflation-fighting campaign.