Regulation
30-Year Mortgage Rates Drop to 6.84% as Inflation Slows

Mortgage rates for 30-year fixed loans have reduced to 6. 84%, the lowest level in seven weeks, which is a bit of relief for those who are looking to buy homes. This decline, reported on Wednesday, is the consequence of a drop from the last rate that was 7. 09%.
Freddie Mac says this is the fifth week in a row that rates have been over 7%, although the current decrease gives a little hope for those who are trying to get financing.
The decrease in rates was triggered by the hope that central interest rates might be cut by early summer. The major lenders such as Barclays, HSBC and TSB have already announced the cuts in fixed-rate mortgage deals which has made it clear that other lenders will do so too.
Anticipated Mortgage Rate Cuts and Market Reactions
Financial professionals believe that there will be more cuts in the mortgage rates due to the recent decrease in swap rates which are a significant indicator for mortgage pricing. Mark Harris from SPF Private Clients said that these rate cuts are inspiring for the borrowers and are probably going to boost housing market activity.
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The average 30-year fixed mortgage rate falls to 6.99%
First sub 7.00% reading since April 4, 2024
Spread: 264 bps pic.twitter.com/8IMc3NpToO
— Lance Lambert (@NewsLambert) May 15, 2024
Adrian Anderson of Anderson Harris also stressed that the absence of buyers who have been waiting for cheaper mortgage rates will result in a burst of the market activity.
The Bank of England, in the beginning of this month, did not change interest rates and they remained at 5. 25% but he suggested a possible rate cut in the summer.
Governor Andrew Bailey was positive about the economic future, but he emphasized that more evidence of declining inflation is needed before any rate cuts will be made.
Inflation and Its Impact on Mortgage Rates
In the US, inflation decelerated more than expected in April which led to a lot of speculations that the Federal Reserve will cut rates sooner than it was thought. The traders now are forecasting a potential rate cut in September.
This view has had a positive impact on the UK market, which is now starting to consider the possibility of rate cuts.
Although these changes have taken place, mortgage rates are still high in comparison to early 2022 when they were about half of the present levels. This continuous increase in the rates of interest is still affecting the housing market and it can be seen from a recent Redfin Corp. measure of homebuyer demand which reached its lowest level in two months.
Housing Market Dynamics and Buyer Behavior
The recent drop in mortgage rates is a kind of budgetary relief for people who are thinking about buying their first home. Nevertheless, the rates are still about 7% which means that affordability is a problem for many buyers. Lisa Sturtevant, the main economist at Bright MLS pointed out that high home prices and competition with cash buyers are still major obstacles.
The market responses to the previous dips which were below 7% have been different. For example, in November 2022, a dip led to the growth of mortgage applications by 4%, while in July 2023 similar decrease caused only a rise of about 1.3% drop in applications. This inconsistency highlights the fact that we still face tough times in the housing market, where there is a low inventory and high prices.
Economists such as Sam Khater from Freddie Mac indicate that the little decrease in rates could give some leeway to the homebuyers’ budgets. Nevertheless, the continuous proof of inflation getting closer to the target of 2% is needed in order for the rates to fall more.
Read Also: Bitcoin Versus Ethereum War: Which Crypto Is Winning?
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
US SEC Drops Charges Against Hawk Tuah Girl Hailey Welch

Hawk Tuah girl Hailey Welch, known for her association with the controversial $HAWK token, has been cleared of any wrongdoing after a lengthy investigation by the U.S. Securities and Exchange Commission (SEC). The SEC has decided not to press charges against Welch in connection with the rapid rise and subsequent collapse of the meme-based cryptocurrency.
US SEC Investigation Into Hawk Tuah Girl Concludes Without Charges
The SEC had launched an investigation into the $HAWK token after its dramatic price drop. The token, which was linked to Welch’s viral persona, initially saw a market cap surge to $490 million before crashing by over 90%. Investors who were impacted by the crash filed a lawsuit against those behind the project, alleging that the coin had been promoted and sold without proper registration.
Hawk Tuah girl Hailey Welch, who cooperated fully with the investigation, expressed relief after the SEC’s decision. “For the past few months, I’ve been cooperating with all the authorities and attorneys, and finally, that work is complete,” Welch told TMZ.
Her attorney, James Sallah, confirmed that the SEC had closed the case without any findings against her, adding that there would be no monetary sanctions or restrictions on Welch’s future involvement in cryptocurrency or securities.
This Is A Developing News, Please Check Back For More
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
Sonic Labs To Abandon Plans For Algorithmic USD Stablecoin, Here’s Why

Barely a week after hinting at launching an algorithmic USD stablecoin, Sonic Labs is shuttering its plans. Sonic Labs co-founder Andre Cronje revealed that incoming stablecoin regulation in the US contributes to the change of stance.
Sonic Labs Makes U-Turn Over Algorithmic USD Stablecoin
In mid-March, Sonic Labs disclosed plans for a yield-generating algorithmic stablecoin for its blockchain. However, new developments in the US regulatory landscape are forcing the company to ditch its algorithmic stablecoin ambitions.
Sonic Labs co-founder Andre Cronje confirmed the change in direction via an X post following the release of the full draft of the STABLE Act by Congress for clearer oversight. According to the text, lawmakers are pushing for a two-year moratorium on algorithmic stablecoin, souring Sonic Labs plans.
Unlike mainstream stablecoins backed by fiat or other commodities, algorithmic stablecoins rely on smart contracts to maintain their peg. The 2022 implosion of Terra’s ecosystem following the de-pegging of its TerraUSD (UST) algorithmic stablecoin stunned regulators.
“We will no longer be releasing a USD-based algorithmic stablecoin,” said Cronje.
In a light-hearted note, community members teased potential strategies for Sonic Labs to sidestep incoming stablecoin regulation. Apart from the loophole of launching the algorithmic stablecoin before the regulation goes live, Cronje teased an algorithmic dirham that will be denominated in USD.
Industry Players Are Bracing For New Stablecoin Regulations
Stablecoin issuers are steeling themselves for incoming stablecoin regulations in the US. While the GENIUS Act and STABLE Act continue to inch forward, there are common denominators in both bills.
For starters, there is the requirement for equivalent reserves at a 1:1 ratio with both bills steering clear of algorithmic stablecoins. The White House is favoring the GENIUS Act over the STABLE Act as lobbyists rally to stifle the possibility of a Conference Committee.
Authorities are targeting stablecoin regulation to reach Trump in two months as issuers jostle for position. Tether, Circle, and Ripple are staking their claims to lead the US government’s ambitions to rely on stablecoins to maintain the dollar’s dominance.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
FDIC Revises Crypto Guidelines Allowing Banks To Enter Digital Assets

The Federal Deposit Insurance Corporation (FDIC) has updated its guidelines, enabling banks to engage in cryptocurrency-related activities without seeking prior approval. This new policy shift signals a change in the FDIC’s approach to the growing role of digital assets in the banking sector.
New FDIC Guidelines on Crypto-Related Activities
The FDIC has issued a new Financial Institution Letter (FIL-7-2025), which provides updated guidance for banks looking to engage in cryptocurrency activities. The new guidance rescinds the previous policy set out in FIL-16-2022, which required banks to notify the FDIC before engaging in such activities.
Under the new rules, banks can now participate in permissible crypto-related activities without waiting for FDIC approval, as long as they manage the risks appropriately.
This change is seen as a shift in the FDIC’s stance, following the agency’s earlier stance that required prior approval for crypto engagements. FDIC Acting Chairman Travis Hill expressed that this new approach aims to establish a more consistent framework for banks to explore and adopt emerging technologies like crypto-assets and blockchain.
“With today’s action, the FDIC is turning the page on the flawed approach of the past three years,” said Hill in a statement.
This Is A Developing News, Please Check Back For More
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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