Long-term mortgage rates slip – 4th week in a row

WASHINGTON (AP) – May 23, 2019 – U.S. long-term mortgage rates fell slightly this week, marking a fourth straight week of declines to lure prospective purchasers in the spring homebuying season.

Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage slipped to 4.06% from 4.07% last week. By contrast, a year ago the benchmark rate stood at 4.66%.

The average rate for 15-year, fixed-rate home loans declined this week to 3.51% from 3.53% last week.

Source:   AP Logo Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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