WASHINGTON (AP) — Long-term U.S. mortgage rates edged lower this week. As rates remain at historically low levels, homeowners taking advantage to refinance their mortgages have pushed refinancing activity to higher levels.
Mortgage giant Freddie Mac says the average for the benchmark 30-year fixed-rate mortgage declined to 3.44 percent from 3.46 percent last week. The average rate is down from 3.90 percent a year ago, and is close to its all-time low of 3.31 percent in November 2012.
The 15-year fixed mortgage rate eased to 2.76 percent from 2.77 percent.