As you consider buying a home, you’ll likely weigh different mortgage types. For most prospective buyers, a 30-year fixed-rate mortgage is the top pick. It offers more manageable monthly payments because you’re stretching the loan over three decades as opposed to 10 or 15 years.

Mortgage rates are down and under 7%. Today’s national average on a 30-year fixed-rate mortgage is 6.93%, according to Bankrate. If you choose a 15-year fixed-rate mortgage, the average rate is 6.11%.

After notching a one-year high last week, mortgage rates have dropped four of the last five market days. Rates fell for many other loan types as well.