According to Jinshi, as borrowing costs fell, U.S. mortgage refinancing applications surged for the second consecutive week. Data from the Mortgage Bankers Association showed that the refinancing index jumped 20.3% in the week ending September 20, reaching its highest level since April 2022. The 30-year fixed mortgage contract rate fell 2 basis points to 6.13%, the eighth consecutive week of decline. The home purchase application index rose 1.4% last week to its highest level since early February, indicating a rapid increase in housing market demand. At the same time, the 10-year U.S. Treasury yield rose slightly as traders debated the Fed's path to rate cuts.