Mortgage rates dropped for the third week in a row, providing some wiggle room for budget-conscious homebuyers.

More softening may be on the way, with some experts predicting that rates may have already peaked this year.

The average rate on the 30-year fixed mortgage fell to 7.44% from 7.50% the previous week, according to Freddie Mac on Thursday. Still, rates have held steadily above 7% for three months, a stretch not seen in 22 years.

The move in rates came after a government report this week showing inflation came in lower than expected in October. While Federal Reserve Chair Jerome Powell didn’t rule out the possibility of another rate hike in December, the Fed’s commitment to remain data dependent gave traders and housing experts some hope.

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