In this Monday, July 9, 2018 photo a for sale sign stands outside a pre-existing home, in Walpole, Mass. On Thursday, July 19, Freddie Mac reports on the week’s average U.S. mortgage rates. (AP Photo/Steven Senne)

Average US mortgage rates dip; 30-year at 4.52 percent

The rate stood at 3.96 percent a year ago

July 19, 2018 - 1:19 pm

WASHINGTON (AP) — Long-term U.S. mortgage rates edged slightly lower this week.

Mortgage buyer Freddie Mac says the average rate on 30-year, fixed-rate mortgages slipped to 4.52 percent from 4.53 percent last week.

Despite the decline in recent weeks, long-term loan rates have been running at their highest levels in seven years. The average benchmark 30-year rate reached a high this year of 4.66 percent on May 24. The rate stood at 3.96 percent a year ago.

The average rate on 15-year, fixed-rate loans ticked down to 4.00 percent this week from 4.02 percent last week.

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