Freddie Mac: US 30-year mortgage rate falls to 7.18%, third straight weekly decline

Three straight weekly declines in the benchmark mortgage rate mark a shift in direction rather than a dramatic move, and the modest size of each step suggests the housing market is easing at the margin, not unlocking. For prospective buyers and rate-sensitive lenders, the relevant signal is momentum: a sustained downshift in financing costs would matter more to affordability than any single week's reading. Whether this run extends to a fourth week, or stalls, is the open question worth watching.