US average mortgage rates decline; 30-year at 2.99%

WASHINGTON (AP) — Average long-term mortgage rates declined this week, with the benchmark 30-year loan slipping back below 3%. Mortgage buyer Freddie Mac reports that the average rate for a 30-year mortgage eased to 2.99% from 3.01% last week. The rate for a 15-year loan, a popular option for homeowners refinancing their mortgages, fell to 2.23% from 2.28%. The number of Americans applying for unemployment benefits fell last week, another sign that the U.S. job market and economy continue their steady recovery from last year’s coronavirus recession. Jobless claims fell by 38,000, to 326,000, the first drop in four weeks,.