Mortgage demand is rising as borrowin🉐g costs fall, showing that the housing market may be seeing benefits fro🎃m the economic impact of tariff proposals.

While President Donald Trump's proposed import taxes have weighed on investor sentiment and 澳洲幸运5官方开奖结果体彩网:sent markets lower, economists say the resulting economic uncertain🅘ty is also helping to lower home bor🦋rowing costs.

“澳洲幸运5官方开奖结果体彩网:Mortgage rates declined last week on souring consumer sentiment regarding the economy and increasing uncertainty over the impact of new tariffs levied on imported goods into the U.S.,” said Joel Kan, vice president and deputy chief ecꦓonomist at the Mortgage Bankers Association (MBA).

Rates Fall as Treasury Yields Move Lower

The 30-year fixed-rate mortgage for the week ending Feb. 28 came in at 6.73%, the lowest level since December,💦 according to MBA data. The result has been increasing mortgage loan demand, with applications for purchases higher by 12% from the prior week and refinancing loan applications higher by 37%.

“This is a period where we typically see purchase activity ramp up and purchase applications were up ove🐼r the week and continued to run ahead of last year’s p൲ace, more green shoots as we head into the spring homebuying season,” Kan said. 

The decline in mortgage rates comes amid a decline in the 10-year Treasury yield, which has moved from its 澳洲幸运5官方开奖结果体彩网:recent high of nearly 4.8% in mid-January to around 4.2% this week. Mortgage rates often move in tandem with the 澳洲幸运5官方开奖结果体彩网:10-year Treasury yield.