The mortgage rates in the United States have decreased for six consecutive times, leading to an increase in demand for home purchases and refinancing.

The average interest rate for 30-year fixed-rate mortgages in the United States has continued to decline for the sixth consecutive week, reaching the lowest level since early December last year. This trend has sparked a recovery in home buying and refinancing activities. According to data released by the Mortgage Bankers Association (MBA) on Wednesday, in the first week of March, the average contract interest rate for 30-year fixed-rate mortgages decreased by 6 basis points to 6.67%, while the 15-year fixed-rate mortgage rate dropped to 6.04%, the lowest level since October. At the same time, the average interest rate for jumbo mortgages also hit the lowest level in over five months. The decrease in borrowing costs has brought much-needed boost to the struggling real estate market before the peak spring sales season. Although home prices remain high, the lower interest rates help ease the financial burden for potential buyers. The drop in mortgage rates has reduced the cost of borrowing for home buyers, stimulating demand for home purchases. MBA's purchase application index, which had already risen by 9% the previous week, increased by another 7% to the highest level since January. The refinance index also rose by over 16%, reaching the highest level since early October last year. It is worth noting that the downward trend in mortgage rates is closely related to fluctuations in U.S. Treasury bond yields. Recently, after a significant decline in February, the yield on the 10-year Treasury bond stabilized, providing room for a decline in mortgage rates. President Trump's tariff policies and concerns about the economy triggered a stock market sell-off, with investors flooding into safe government bonds, further driving down bond yields. The MBA survey has been conducted weekly since 1990, covering over 75% of retail residential mortgage applications in the United States. The survey data shows that the decline in mortgage rates has not only stimulated home buying activity but also fueled the rise in refinancing demand. For potential home buyers and existing homeowners, the current low-interest rate environment offers a rare opportunity to alleviate the financial pressure brought by high home prices and provides momentum for further recovery in the real estate market.