US long-term mortgage rates fall; 30-year average at 4.07%

FILE - In this Jan. 4, 2019, photo a sign is displayed outside a house for sale in Pittsburgh's Lawrenceville neighborhood. On Thursday, May 16, Freddie Mac reports on this week‚Äôs average U.S. mortgage rates. (AP Photo/Keith Srakocic, File)

May 16, 2019 - 7:37 AM

WASHINGTON - U.S. long-term mortgage rates fell slightly this week, marking a third straight week of declines as a continued inducement to purchasers in the spring homebuying season.

Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage eased to 4.07% from 4.10% last week. By contrast, a year ago the benchmark rate stood at 4.61%.

The average rate for 15-year, fixed-rate home loans declined this week to 3.53% from 3.57% last week.

News from © The Associated Press, 2019

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US long-term mortgage rates fall; 30-year average at 4.07%

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