US long-term mortgage rates hit all-time low again

SILVER SPRING, Md. (AP) — Long-term U.S. mortgage rates fell this week with the benchmark 30-year home loan hitting its lowest level ever. Mortgage buyer Freddie Mac reported Thursday that the average rate on the key 30-year fixed-rate mortgage fell to 3.07%, down from last week’s 3.13%. For the second week in a row, it is the lowest level since Freddie began tracking average rates in 1971. A year ago, the rate stood at 3.75%. The average rate on the 15-year fixed-rate mortgage also fell slightly to 2.56% from 2.59% last week, but it is down from 3.18% a year ago.