Core Viewpoint - The decline in mortgage rates has led to an increase in mortgage applications in the U.S., marking the first growth in four weeks [1] Group 1: Mortgage Application Trends - The purchase application index surged by 11.1%, the largest increase since January of this year [1] - The refinancing index also experienced a similar rate of growth [1] Group 2: Interest Rate Movements - As of the week ending May 2, the 30-year mortgage contract rate decreased by 5 basis points to 6.84% [1] - The five-year adjustable mortgage rate increased but remains below mid-April levels [1] Group 3: Market Influences - Mortgage rates are following the trend of U.S. Treasury yields, which have mostly declined over the past week [1] - Investors are awaiting comments from Federal Reserve Chairman Jerome Powell regarding the officials' stance on interest rates [1]