U.S. long-term mortgage rates fell this week to a 10-month low, spurring on potential homebuyers for the upcoming season.
Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year, fixed-rate mortgage eased to 4.41 percent from 4.46 percent last week. Despite the declines in recent weeks, home borrowing rates are above last year’s levels. The key 30-year rate averaged 4.32 percent a year ago.
The average rate this week for 15-year, fixed-rate loans declined to 3.84 percent from 3.89 percent.