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Long-term mortgage rates near historic lows: 30-year 3.55%

A for-sale signs stands outside a house in Richmond, Virginia. U.S. long-term mortgage rates fell to near historically low levels this week with the average on the benchmark 30-year loan hitting its lowest level since November 2016. (AP Photo/Steve Helber)

A for-sale signs stands outside a house in Richmond, Virginia. U.S. long-term mortgage rates fell to near historically low levels this week with the average on the benchmark 30-year loan hitting its lowest level since November 2016. (AP Photo/Steve Helber)

WASHINGTON (AP) — U.S. long-term mortgage rates are near historically low levels this week with the average on the benchmark 30-year loan falling to its lowest level since November 2016.

The low borrowing rates have been a boon for homebuyers, even as global financial markets are roiled by concerns over the global economy. The mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan declined to 3.55% this week, from 3.60% last week. The rate had stood at 4.51% a year ago.

The average mortgage rate for 15-year, fixed-rate home loans eased to 3.03%, from 3.07% last week.

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