30-year mortgage rate drops

Associated Press

WASHINGTON

Average U.S. rates on fixed mortgages fell this week for a fourth-straight week. The low rates could give a boost to the spring home-buying season, which has started slowly.

Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year loan declined to 4.14 percent from 4.20 percent last week. The average for the 15-year mortgage eased to 3.25 percent from 3.29 percent.

Warmer weather has yet to boost home-buying as it normally does. Rising prices and higher rates have made affordability a problem for would-be buyers.