US Mortgage Rates Continue to Fall: MBA âšī¸
US mortgage rates dropped to 6.39%, the lowest since October 2024, leading to a significant 29.7% increase in mortgage applications and a 58% surge in refinancing applications.
Declining mortgage rates signal potential economic stabilization and increased consumer confidence in the housing market. Lower rates could stimulate real estate investment and consumer spending, which positively impacts broad market indices and financial sector stocks.