This week, mortgage rates in the United States declined, with the average fixed-rate for 30 years dropping below 6% to 5.98%, one of the lowest levels since the end of 2022. Federal Reserve Vice Chair Michelle Bowman stated that capital rules limit banks' participation in mortgage issuance and services, and regulators are reviewing the modification plan to better align the related requirements with the risks. Analysts believe that increased competition among banks may slightly reduce borrowing costs, but given the continued weak demand for housing and rising home prices, regulatory adjustments alone are not enough to bring interest rates back down to the low levels seen during the COVID-19 pandemic.