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30-year mortgage rate drops



Published: Fri, June 27, 2014 @ 12:00 a.m.

Associated Press

WASHINGTON

Average U.S. rates on fixed mortgages declined this week, hovering near historically low levels.

Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year loan eased to 4.14 percent from 4.17 percent last week. The average for the 15-year mortgage fell to 3.22 percent from 3.30 percent. Rising prices and higher interest rates beginning in mid-2013 have made homes less affordable for would-be buyers.


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