U.S. long-term mortgage rates fell slightly this week, marking a fourth straight week of declines to lure prospective purchasers in the spring homebuying season.
Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year, fixed-rate mortgage slipped to 4.06% from 4.07% last week. By contrast, a year ago the benchmark rate stood at 4.66%.
The average rate for 15-year, fixed-rate home loans declined this week to 3.51% from 3.53% last week.
With mortgage rates at historically low levels, prospective homebuyers have been rushing in. Applications for mortgage loans jumped 2.4% in the week ended May 17 from a week earlier, according to the Mortgage Bankers Association.
Freddie Mac surveys lenders across the country between Monday…