US average mortgage rates fall again; 30-year loan at 3.04%

WASHINGTON (AP) — Mortgage rates fell for a second straight week amid signs of economic improvement. Mortgage buyer Freddie Mac reports that the benchmark 30-year home-loan rate declined to 3.04% this week from 3.13% last week. At this time last year, the long-term rate was 3.31%. The rate for a 15-year loan dipped to 2.35% from to 2.42% last week. Last week’s decline was the first in more than two months. Mortgage rates have been at historically low levels, but strong demand and low supply of available homes have pushed prices higher in recent years.