US long-term mortgage rates down; 30-year average at 4.14%
WASHINGTON (AP) — U.S. long-term mortgage rates fell this week after four weeks of increases, giving a boost to prospective home buyers during the spring sales season.
Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage dropped to 4.14% from 4.20% last week. By contrast, a year ago the benchmark rate stood at 4.55%.
The average rate for 15-year, fixed-rate home loans declined this week to 3.60% from 3.64% last week.