Gold and Silver Pull Back — Smart Money Buys When Others Wait 
US mortgage rates experienced their first decline in six weeks, falling 7 basis points to 7.02%, according to the Mortgage Bankers Association’s latest data.
The decrease has helped sustain home purchase applications at their highest level in a year, with the purchase index rising 0.6%.
The drop in rates mirrors falling Treasury yields, sparked by encouraging inflation data that strengthened expectations for earlier Federal Reserve rate cuts. The trend could continue as markets respond positively to President Trump’s measured approach to tariff implementation in his first days in office.
However, refinancing activity showed a contrasting trend, declining 2.9% during the same period. The MBA’s comprehensive survey, covering over 75% of US residential mortgage applications, has been tracking these trends since 1990.
