NEW YORK (CNN/Money) - Mortgage rates eased the week ended June 29, with the 30-year fixed mortgage dipping to 6.39 percent, down slightly from 6.41 percent the week prior.

However, rates may go up in coming weeks due to a decision by the Federal Reserve to lift its federal funds rate by a quarter of a point.

"Often times, the Fed is behind the market, as the market anticipates what it believes the Federal Reserve will do," explained Michael E. Adler, president and Managing Director at Informa Research Services Inc.

"There was some speculation that the Fed could raise rates as much as 50 basis points, in which case you would have seen mortgage rates jump," he added. "Because the move was only 25 basis points, that was already factored into the mortgage rates, and therefore there was not a drastic increase."

Weekly rates information • Mortgage rates falter • 12-mo. CD rates rise • Credit card rates slip

The benchmark mortgage rate stood at 6.44 a month earlier, according to Informa Research Services, and had a range of 5.46 percent to 7.4 percent for the week ended June 29.

The average 15-year fixed mortgage rate pulled back slightly to an average of 5.8 percent, down from 5.82 percent the previous week, with a range of 4.69 percent to 7.02 percent. Rates stood at 5.81 percent a month earlier.

Adjustable rate mortgages (ARMs) fell to a 4.85 percent average from 4.87 percent the week prior, with a range of 3.05 percent to 6.07 percent. ARM rates stood at 4.55 percent a month earlier.

Below are the rates for three key mortgage products from five top national mortgage lenders. You can compare rates from more institutions with the rate-search tool above.

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