Average long-term U.S. mortgage rates slipped this week after they climbed recently expectations that the Federal Reserve may soon raise its key short-term interest rate.
Mortgage buyer Freddie Mac said Wednesday the average rate on a 30-year fixed-rate mortgage slipped to 3.95% from 3.97% a week earlier. The key 30-year rate was nearly unchanged from its level of a year ago, 3.97%. But the average has increased over the past months from 3.76 at the end of October.
The average on 15-year fixed-rate mortgages was unchanged at 3.18% from 3.20.
Rates have risen in recent weeks as some of the global economic turmoil has calmed down. Foreign...