October 29, 2025
United States:
US Mortgage Rates Fall to 6.3%, Boosting Purchase Activity
US mortgage rates fell to a fresh one-year low, encouraging more homeowners to refinance and drawing prospective buyers into the market.
The contract rate on a 30-year mortgage fell 7 basis points to 6.3% in the week ended Oct. 24, according to Mortgage Bankers Association data released Wednesday.
Europe:
Spain Growth Stays Strong as Homegrown Demand Offsets Trade
Spain continued to record strong growth, cementing its status as the euro area’s top major economy.
Third-quarter gross domestic product rose 0.6% from the previous three months — matching analysts’ expectations.
Asia:
China Home Sales Slump to Deepen Despite Stimulus, Fitch Says
China’s multi-year property crisis is set to drag on in 2026 and further weigh on banks’ asset quality, even after the government stepped up its stimulus push to boost demand, according to Fitch Ratings.
The country’s new home sales by area may decline 15%-20% from their current level before the sector stabilizes, Lulu Shi, a director at Fitch, said at a briefing in Shanghai on Wednesday.
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