[US Treasury Increases Buybacks to Stabilize Bond Market; US Mortgage Rates Fall for Two Consecutive Weeks] US mortgage rates fell for the second consecutive week after the Treasury announced it would increase the scale of long-term Treasury bond buybacks to help stabilize the bond market. Freddie Mac said in a statement that the average rate for a 30-year fixed-rate mortgage fell to 6.65% from 6.67% a week earlier. A year ago, the rate was 6.58%. Borrowing costs remain a major concern for potential homebuyers, as the protracted war with Iran keeps inflation risks high. Jack Krimell, senior economist at Realtor.com, wrote, "The movement at the long end of the yield curve highlights market concerns about inflation and the fiscal outlook, which could put upward pressure on mortgage rates in the coming weeks."
