LOS ANGELES (AP) — The average long-term U.S. mortgage rate fell slightly this week, welcome news for home shoppers facing rising prices and a stubbornly low inventory of properties on the market this spring homebuying season.
The average rate on a 30-year mortgage slipped to 6.79% from 6.87% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.32%. The average rate is now at its lowest level in a couple of weeks.
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