US Average Mortgage Rates Decline; 30-year At 2.99 Per Cent

Washington (AP) Average long-term mortgage rates declined this week, with the benchmark 30-year loan slipping back below 3 per cent. Mortgage buyer Freddie Mac reported Thursday that the average rate for a 30-year mortgage eased to 2.99 per cent from 3.01 per cent last week. The rate stood at 2.87 per cent this time last year. It peaked this year at 3.18 per cent in April. The rate for a 15-year loan, a popular option for homeowners refinancing their mortgages, fell to 2.23 per cent from 2.28 per cent last week..

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