USA: 30-Year Mortgage Rate Falls Slightly.

Mortgage rates have dropped for the first time since the conflict in Iran began, offering a bit of relief to the U.S. housing market as the spring homebuying season gets underway. The average rate for a 30-year fixed mortgage fell to 6.37% on Thursday, down from 6.46% the previous week and 6.62% in the same period last year. The 10-year Treasury yield, closely tied to mortgage rates, declined following Tuesday’s announcement of a two-week ceasefire. However, analysts caution that the economic fallout from the Iran conflict remains far from resolved.