What is driving mortgage rates today lower?

Mortgage rates today are falling because the 10-year Treasury yield eased. Lenders price the 30-year fixed rate off that benchmark. As yields drop, funding costs and hedging costs fall, so quoted mortgage rates improve. Fresh lender quotes and weekly application data confirm the move is feeding through to borrowers.

How do lower mortgage rates today affect stocks?

Cheaper mortgages reduce borrowing costs, lift home affordability, and can raise confidence. That supports homebuilders, REITs, building materials, and some retailers. Lower discount rates also help growth stocks. If mortgage rates today keep easing, breadth can improve, though surprises in inflation or yields can quickly reverse the boost.

Why did refinance applications jump while purchases fell?

Owners react fastest to falling costs, so they refinance to cut monthly payments. Buyers still face affordability, deposit hurdles, and tight supply. Even with lower mortgage rates today, some buyers wait for more inventory or price clarity. As rates stabilize, purchase demand may follow with a lag of several weeks.

How should Australians manage currency when buying US equities now?

Decide if you want AUD exposure. With lower mortgage rates today boosting risk appetite, AUD could firm if global growth sentiment improves. Unhedged ETFs gain if AUD weakens and lag if it strengthens. Hedged ETFs reduce currency swings. Match the choice to your time horizon and your view on AUD versus USD.

Global Market Insights

^GSPC Today, February 19: Mortgage Rates Hit 1-Month Low on Yield Slide

ByHuzaifa Zahoor February 19, 2026February 19, 2026

Mortgage rates today fell to a 1-month low as the 10-year Treasury yield eased, sparking a sharp rebound in refinancing. The Mortgage Bankers Association reported a 7% weekly rise in refinance applications and a 132% jump year over year, while purchase applications slipped 3%. Zillow’s 30-year average sits at 5.79%, with some lenders quoting below 6%. For equity markets, cheaper credit can lift housing sentiment and support rate-sensitive shares. For Australians holding US exposure, moves in ^GSPC and the AUD matter for total returns.