LINKEDIN 1 COMMENTMORE

Washington — Average long-term mortgage rates have fallen for the first time in four weeks and remain near historic lows reached in May 2013.

Mortgage giant Freddie Mac says the national average for a 30-year, fixed-rate mortgage fell to 3.75 percent from 3.80 percent last week.

The rate for a 15-year mortgage, popular with homeowners who refinance, fell to 3.03 percent from 3.07 percent last week.

A year ago, the average 30-year mortgage stood at 4.28 percent and the 15-year mortgage at 3.32 percent. Mortgage rates have remained low even though the Federal Reserve in October ended its monthly bond purchases, which were meant to hold down long-term rates.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Read or Share this story: http://detne.ws/1G1HQ3V