The 30-year mortgage rate has fallen to 6.37%, hitting a new low since September 2024. The shift in Federal Reserve policy and ongoing weak economic data have supported the downward trend in interest rates. For investors, this reflects a gradual change in the macro environment—while the attractiveness of traditional fixed income assets increases, it also signals that liquidity conditions may become even more relaxed, thereby influencing the allocation strategies for risk assets. Market participants should closely monitor upcoming inflation data and Fed policy developments.