Elevated mortgage rates have dampened the start of the spring homebuying season.
By ALEX VEIGA, AP Business Writer
The average rate on a 30-year mortgage in the U.S. eased this week, though it remains close to its highest level in more than two months.
The rate fell to 6.81% from 6.83% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.17%.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell. The average rate dropped to 5.94% from 6.03% last week. It’s down from 6.44% a year ago, Freddie Mac said.
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