Mortgage rates fell slightly this week, as more evidence of waning inflation helped push rates back to their lowest levels in months.

This week’s updates on both inflation and monetary policy had been highly anticipated by investors, and both reports resulted in mortgage rates trending lower. Tuesday’s news that the Consumer Price Index continued to decrease in November helped push rates firmly downward, touching their lowest point since September. The market’s reaction to Wednesday’s announcement from the Federal Reserve – in which they officially predicted a higher-than-previously-expected path forward for their benchmark interest rate – was less obvious. At first, the news took some wind out of the market’s sails. But assurances from Fed Chair Powell that the central bank would likely shift their outlook should more evidence emerge that inflation pressures are waning buoyed investors’ spirits, sending bond yields – and the mortgage rates they tend to influence – back downward.

Altogether, mortgage rates remain at their lowest levels since the late summer as the year nears its end.