 Mortgage rates have also been dropping in hopes for rate cuts, with the average rate on a 30-year fixed rate mortgage falling from 7.01 to 6.99%. But once again, another record day for the markets as a rally in the technology sector and hopes for lower interest rates push the S&P 500 to a new record high. The Dow finished the day up 429 points to 39,721, gaining 1.1%.