Borrowing costs for U.S. homebuyers continued their downward slide, with the benchmark 30-year fixed mortgage rate falling to 6.23 percent from 6.3 percent a week earlier, according to data released Thursday by Freddie Mac. The rate stood nearly six-tenths of a percentage point below its level of 6.81 percent a year ago.
The sustained decline marks a reprieve for a housing market still adjusting to the volatility that followed the outbreak of the Iran conflict in late February. That escalation sent rates higher as investors priced in the odds of the Fed delaying interest rate cuts, temporarily stalling momentum in what is typically the…
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