FILE - This Monday, July 10, 2017, file photo shows a house for sale in North Andover, Mass. On Thursday, Jan. 4, 2018, Freddie Mac reports on the week's average U.S. mortgage rates. (AP Photo/Elise Amendola, File)
January 04, 2018 - 7:33 AM
WASHINGTON - Long-term U.S. mortgage rates fell this week, making it slightly more affordable to borrow for a home.
Mortgage buyer Freddie Mac says the average rate on 30-year fixed-rate mortgages slipped to 3.95 per cent from 3.99 per cent last week. The average has tumbled from 4.20 per cent a year ago.
The average rate on 15-year fixed-rate mortgages fell to 3.38 per cent from 3.44 per cent in the prior week. This same rate average 3.44 per cent last year.
The interest charged on U.S. Treasury notes dropped from a week ago, causing mortgage rates to slip in response.
The average on five-year adjustable-rate mortgages slipped to 3.45 per cent from 3.47 per cent last week.
News from © The Associated Press, 2018