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US long-term mortgage rates decline; 30-year average 4.10%

US long-term mortgage rates decline; 30-year average 4.10% | iNFOnews.ca
FILE - This Jan. 14, 2019, photo, shows a sign outside a home that has been sold, in Mount Lebanon, Pa. On Thursday, May 9, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/Gene J. Puskar, File)

WASHINGTON – U.S. long-term mortgage rates declined this week for a second straight week, reversing the upward trend in April as a lure to potential home buyers.

Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage fell to 4.10% from 4.14% last week. By contrast, a year ago the benchmark rate stood at 4.55%.

The average rate for 15-year, fixed-rate home loans eased this week to 3.57% from 3.60% last week.

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