The average rate on a 30-year mortgage in the U.S. dipped to 6.76%, marking a second consecutive weekly decline. Despite this decrease, uncertainty in the economy continues to weigh heavily on the housing market, leading to decreased mortgage applications and hesitant consumers. The crisis of affordability and supply remains a significant barrier for first-time homebuyers, with many choosing to wait for more stable conditions before making major financial commitments. Predictions about future mortgage rates are challenging due to variables like bond market behavior and investor confidence. The housing market is currently in a tentative state, with potential bargains for those willing to take risks.