US average mortgage rates decline; 30-year at 2.98%

WASHINGTON (AP) — Mortgage rates declined this week, with the key 30-year loan slipping back below the 3% mark as the economic recovery from the pandemic recession remains robust. Mortgage buyer Freddie Mac reports that the average for the 30-year home loan eased to 2.98% from 3.02% last week. The rate for a 15-year loan, a popular option among homeowners refinancing their mortgages, fell to 2.26% from 2.34% last week. Mortgage rates are widely expected to gradually rise in the second half of the year that began Thursday.