The average rate on a 30-year mortgage in the U.S. eased for the sixth week in a row, a welcome boost in purchasing power for home shoppers just as the annual spring homebuying season gets going.

The average rate fell to 6.76% from 6.85% last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.94%.

Borrowing costs on 15-year, fixed-rate mortgages also eased this week. The average rate fell to 5.94% from 6.04% last week. A year ago, it averaged 6.26%, Freddie Mac said.

The recent steady decline in mortgage rates hasn’t been enough to alter the affordability equation for many prospective shoppers, especially first-time buyers who don’t have equity from an existing home to put toward a new purchase. — Associated Press