Rates Fall for 4 Straight Weeks to 6.58%, Boosting Buyer Confidence and Driving a Surge in Refinancing Applications The average interest rate for 30-year fixed-rate mortgages in the United States has fallen to its lowest level in 10 months, raising hopes of breathing new life into the sluggish housing market. Freddie Mac, a leading mortgage lender, announced on Thursday that the average 30-year fixed mortgage rate dropped to 6.58% this week, down from 6.63% last week. This marks the lowest rate since October 24 of last year (6.54%) and the fourth consecutive week of decline. The rate for the 15-year fixed mortgage, which many homeowners prefer when refinancing, also edged down from 5.75% last week to 5.71% this week. Mortgage rates began to climb sharply in early 2022 as the era of ultra-low rates during the pandemic came to an end, pushing the U.S. housing market into a prolonged sales slump. Last year, home sales dropped to their lowest level in…