Mortgage Rates Fall for Third Week, Increasing Homebuyer Activity

Mortgage rates have been falling for the third consecutive week, leading to an increase in applications to purchase a home. The Federal Reserve's influence on mortgage rates through the yield on 10-year US Treasuries is reflected in the trend. The strong rally in the bond market has also contributed to lower costs for borrowers. However, analysts have varying forecasts for rate cuts, causing uncertainty in the Federal Reserve's messaging.