U.S. Treasury repurchased the bond market and US mortgage rates fell by two weeks

On 21 August, after the announcement by the United States Department of the Treasury that it would increase the scale of long-term public debt buy-backs to help stabilize the bond market, United States mortgage rates declined for the second consecutive week. In a statement, the United States of America indicated that the average interest rate on a 30-year fixed-interest mortgage had dropped from 6.67 per cent a week earlier to 6.65 per cent. A year ago, the rate was 6.58 per cent. For potential home buyers, the cost of borrowing remains a major concern, as inflation risks remain high as a result of the prolonged war in Iran. The senior economist, Realtor.com, wrote: “The long-term trend in the yield curve highlights market concerns about inflation and fiscal prospects, which may put upward pressure on mortgage rates in the coming weeks.”