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US average mortgage rates under 3% for first time since Feb.

The Associated Press undefined
McLEAN, Va. (AP) — Mortgage rates fell for the third straight week, dipping below 3% for the first time in two months. Mortgage buyer Freddie Mac reported Thursday that the benchmark 30-year home-loan rate declined to 2.97% this week from 3.04% last week. At this time last year, the long-term rate was 3.33%. The rate for a 15-year loan, popular among those looking to refinance, dipped to 2.29% from 2.35% the week before.  Even with historically low rates, buyers are having a hard time snatching up homes because there are so few for sale.

 

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