For the sixth consecutive week, the average US rate on a 30-year mortgage has fallen to its lowest level since December, reaching 6.76%. Despite this drop, mortgage applications have seen a decline, with demand remaining subdued as homebuyers express caution amidst mounting economic jitters and a weakening economy. Analysts are noting that although rates are at their lowest in more than two months, this may not lead to improved housing affordability. The overall sentiment in the market appears to be marked by uncertainty, impacting consumer confidence and home contract signings.