The average rate on a 30-year mortgage in the U.S. declined for the third week in a row, another positive move for prospective homebuyers during what’s traditionally the housing market’s busy season

The interest rate for the most popular U.S. home loan dropped to 6.61% last week, the lowest rate since October, giving a boost to mortgage applications even as global stocks tumbled in the wake of President Donald Trump's decision to impose sweeping tariffs on trading partners the world over.

Mortgage rates headed higher by most measures this week after President Trump’s tariff plans sparked fresh inflation fears and led to widespread market volatility. Average 30-year mortgage rates were 6.