The average rate on a 30-year mortgage in the U.S. eased for the fifth week in a row to its lowest level since late December, a welcome boost for prospective homebuyers in what’s traditionally the busiest time of the year for home sales.

The average rate fell to 6.85% from 6.87% last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.9%.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their home loan to a lower rate, also eased this week. The average rate fell to 6.04% from 6.09% last week. A year ago, it averaged 6.29%, Freddie Mac said.

The average rate on a 30-year mortgage is now at its lowest level since Dec. 26, when it was also 6.85%. It briefly fell to a 2-year low last September, but has been mostly hovering around 7% this year.

“This stability continues to bode well for potential buyers and sellers as we approach the spring homebuying season,” said Sam Khater, Freddie Mac’s chief economist.

Unemployment applications rise

Slightly more Americans applied for jobless benefits last week, but layoffs remained in the same recent healthy range.

The number of Americans filing for jobless benefits rose by 5,000 to 219,000 for the week ending Feb. 15, the Labor Department said. Analysts projected that 215,000 new applications would be filed.

Some analysts say they expect layoffs ordered by the Department of Government Efficiency to show up in the report in the coming weeks.

Earlier this month, the Labor Department reported that U.S. employers added 143,000 jobs in January, significantly fewer than December’s 256,000 job gains. However, the unemployment rate ticked down to an even 4%, signaling a still very healthy labor market.