Last week, the mortgage loan rate in the USA dropped below 7% for the first time since March, which stimulated the continuous growth of housing financing applications. According to data released by the Mortgage Bankers Association (MBA) on Wednesday, the contract interest rate for 30-year fixed-rate mortgages fell 8 basis points to 6.94% in the week ending June 14. The application index for home mortgage loans increased by 1.6% to the highest level since March. As government data showed inflation pressures cooled down, Treasury yields also significantly declined last week, prompting traders to increase their bets that the Fed has more conditions to push for interest rate cuts, possibly as early as September.