Monthly payment considerations, rather than lifestyle preferences, are pushing more home buyers toward suburbs, small towns and exurban areas, Inman reported.

he average 30-year fixed rate mortgage rate fell to 6.43% from 6.49% last week, while the average 15-year rate dropped to 5.79% from 5.84%, mortgage buyer Freddie Mac said.

The average long-term U.S. mortgage rate drew closer this week to 6.5%, Freddie Mac reported, pushing up borrowing costs for prospective homebuyers.