FILE- In this Feb. 20, 2019, file photo a coming soon for sale sign sits in front of a home in the Dallas suburb of Richardson, Texas. On Thursday, May 2, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/LM Otero, File)

US long-term mortgage rates down; 30-year average at 4.14%

May 02, 2019 - 7:27 am

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.

AP Editorial Categories: