In this Wednesday, June 27, 2018, photo, an open house sign is seen on a street corner in Waukee, Iowa. On Thursday, July 5, Freddie Mac reports on the week’s average U.S. mortgage rates. (AP Photo/Charlie Neibergall)

Average US 30-year mortgage rates fall to 4.52 percent

July 05, 2018 - 10:22 am

WASHINGTON (AP) — Long-term U.S. mortgage rates fell this week, offering a slight degree of relief to would-be homebuyers.

Mortgage buyer Freddie Mac says the average rate on 30-year, fixed-rate mortgages dropped to 4.52 percent from 4.55 percent a week ago. Rates have declined in five of the past six weeks. Still, the average rate has increased from a year ago when it stood at 3.96 percent.

The average rate on 15-year, fixed-rate loans slipped to 3.99 percent from 4.04 percent a year ago.

Mortgage rates have declined as investors have bought 10-year U.S. Treasury notes, causing their yield to decline. The yield peaked in May at 3.11 percent and has since dipped to 2.83 percent as the financial markets have sought a haven amid risks of a trade war.

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