U.S. mortgage rates fall to 10-month low

U.S. long-term mortgage rates fell this week to a 10-month low, spurring on potential homebuyers for the upcoming season. Mortgage buyer Freddie Mac said Thursday the average rate on the benchmark 30-year, fixedrate mortgage eased to 4.41 percent from 4.46 percent last week. Despite the declines in recent weeks, home borrowing rates are above last year’s levels. The key 30-year rate averaged 4.32 percent a year ago. The average rate this week for 15-year, fixedrate loans declined to 3.84 percent from 3.89 percent. Increases in home prices have slowed in many areas of the country, and more homes have come on the market. Those developments, along with historically low mortgage rates, should give a boost to this spring’s home buying season, experts say.