Average US 30-year mortgage rate eases to 3.47 percent

Associated Press

Thursday, Oct. 27, 2016 | 7:33 a.m.

WASHINGTON — Long-term U.S. mortgage rates declined this week, moving closer to historically low levels.

Mortgage giant Freddie Mac says the average for a 30-year fixed-rate mortgage eased to 3.47 percent from 3.52 percent last week. The benchmark rate is down from 3.76 percent a year ago and close to its all-time low of 3.31 percent in November 2012.

The 15-year fixed-rate mortgage, popular with homeowners who are refinancing, ticked down to 2.78 percent from 2.79 percent.