Mortgage rates in the United States have dipped to their lowest level in more than three years, standing at 6.06% this week. This figure, down from 6.16% only a week earlier, follows last year’s average of 7.04%, signaling a continuing trend toward more accessible lending.

President Donald Trump’s latest directive asks Fannie Mae and Freddie Mac to purchase an additional $200 billion in mortgage bonds, aiming to compress the “mortgage spread” and drive rates down. Market watchers say this could ease the affordability crisis while bringing the government-sponsored enterprises close to their legal limit on retained mortgage holdings.

With mortgage rates and credit card debt both on the rise, many Americans face mounting financial challenges. As housing grows more unaffordable, existing home sales are slowing, raising critical questions for investors evaluating S&P 500 stocks at or near record highs.