Freddie Mac

Average rate on 30-year mortgages eases to 3.85%

Average long-term U.S. mortgage rates eased slightly this week, continuing at low levels that could entice potential homebuyers. Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage declined to 3.85 percent from 3.86 percent a week earlier. The rate on 15-year fixed-rate mortgages ticked down to 3.07 percent from 3.08 percent. Rates have stayed below 4 percent for 10 straight weeks. The Federal Reserve announced Sept. 17 its decision to keep interest rates at record lows for now. A rate hike by the Fed could bring higher rates for home loans. The Fed has kept the federal funds rate near zero since the financial crisis struck in 2008. Despite the...