US long-term mortgage rates fall; 30-year loan at 3.73%

This June 20, 2019, photo shows an existing home is offered for sale in Rutledge, Ga. On Thursday, June 27, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/John Bazemore)

WASHINGTON — U.S. long-term mortgage rates fell this week. It was the seventh decline in the past nine weeks for the key 30-year, fixed-rate loan, which reached its lowest level since November 2016.

Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year mortgage fell to 3.73% from 3.84% last week. By contrast, a year ago the rate stood at 4.55%.

The average rate for 15-year, fixed-rate home loans slipped this week to 3.16% from 3.25%.

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