US long-term mortgage rates fall; 30-year at 3.57%

Business News

In this Sept. 25, 2019, photo a realty company’s signs rest on several lawns in front of newly constructed houses in Brandon, Miss. On Thursday, Oct. 10, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/Rogelio V. Solis)

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.

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.

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 This material may not be published, broadcast, rewritten or redistributed.

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