Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage dipped to 3.57% from 3.65% last week. A year ago, the average rate stood at 4.90%. The average rate for 15-year, fixed-rate home loans declined this week to 3.05% from 3.14% last week.
US long-term mortgage rates fall; 30-year at 3.57%
WASHINGTON (AP) — U.S. long-term mortgage rates fell this week amid continued uncertainty about the economy's outlook. Mortgage rates have been running near historic lows, a potential boon to homebuyers.