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 23, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/LM Otero, File)

US long-term mortgage rates slip; 30-year average at 4.06%

May 23, 2019 - 9:47 am

WASHINGTON (AP) — 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.

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