The U.S. 30-year mortgage rate fell to 6.67% last week, marking the largest decline since February, according to the Mortgage Bankers Association (MBA). This decrease pulled the 15-year mortgage rate below 6% for the first time in four months. Mortgage applications increased by 10.9% week-over-week, with refinancing applications surging 23%, reaching the second-highest level since October and up 8% year-over-year. Purchase applications also rose by 1.4%. Meanwhile, Norges Bank maintained its benchmark interest rate at 4.25%, in line with expectations, and indicated plans for further rate reductions during 2025. Turkey's central bank kept its year-end inflation forecast steady at 24%, a factor that will influence its future interest rate decisions.