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OverviewAPI
Mortgage rates have been falling for three consecutive weeks, leading to an increase in home loan applications. The Federal Reserve's influence on mortgage rates through the yield on 10-year Treasuries is reflected in the trend. Optimism about lower inflation and expectations of the Fed being done with interest rate hikes have led to a strong rally in the bond market. However, the downward trend in mortgage rates is challenging for prospective homebuyers and current homeowners.

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