Average US 30-year mortgage rate slips to 4.17 per cent

WASHINGTON — Long-term US mortgage rates eased slightly this week.

Mortgage buyer Freddie Mac says the rate on 30-year fixed-rate loans slipped to an average 4.17 per cent from 4.19 per cent last week. That was still sharply higher than a 30-year rate that averaged 3.65 per cent for all of 2016, the lowest level recorded from records going back to 1971. A year ago, the benchmark rate stood at 3.65 per cent.

The average for a 15-year mortgage declined to 3.39 per cent from 3.41 per cent last week.

The Associated Press

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