U.S. long-term mortgage rates were little changed this week. The key 30-year, fixed-rate loan hovered around an average 3.8% for the third straight week.
Before leveling off, rates marked six straight weeks of declines, putting them at historically low levels during this spring’s homebuying season. Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year mortgage ticked up this week to 3.84% from 3.82% last week. By contrast, a year ago the rate stood at 4.57%.
The average rate for 15-year, fixed-rate home loans slipped this week to 3.25% from 3.26%.