Mortgage rates in the US fell slightly last week following comments from the Federal Reserve chairman about a possible end to a series of interest rate hikes. The average interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 6.48 percent from the previous week's 6.50 percent. This caused an increase in demand for refinancing among current homeowners looking to lower their rates. However, this week, mortgage rates have risen sharply due to investor sentiment that the regional banking crisis may be easing, and the consumer price index report on inflation could impact mortgage rates.