Mortgage rates just dropped closer to 6%. Here's what buyers should consider now.

Mortgage rates have now declined for two consecutive weeks. sakchai vongsasiripat/Getty Images

More positive news was delivered for homebuyers on Thursday when FreddieMac released its latest mortgage interest rate data.

Now at an average of 6.19% on a 30-year mortgage, rates here have fallen for two consecutive weeks . And they're just six basis points above the three-year low they had declined to in September, ahead of the Federal Reserve's rate cut that month. So it could be a smart time for homebuyers stuck on the sidelines in the high-rate climate of the recent past to take action.

But with home prices elevated in many parts of the country and rates here still significantly higher than they were at the beginning of the decade, buyers must take a judicious app