30-year mortgage rate drops

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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