Mortgage rates dipped for the second week, with 30-year fixed loans averaging 6.76% today. Here's what buyers and refinancers need to know.

Mortgage rates ticked down fractionally in the most recent week but consumers are likely too cautious to take advantage.

Mortgage rates remain higher than many homebuyers prefer right now as inflation persists and the Federal Reserve maintains elevated benchmark rates. And with May approaching, bringing both market changes and another scheduled Fed meeting, uncertainty looms.