30-YEAR MORTGAGE RATE FALLS TO AVERAGE OF 3.62%

Average long-term U.S. mortgage rates resumed their decline this week after being unchanged last week following six consecutive weeks of easing. Mortgage buyer Freddie Mac said Thursday the average rate on a 30year, fixed-rate mortgage slipped to 3.62% from 3.65%. That puts it well below the 3.80% it marked a year ago. The average on 15-year fixed-rate mortgages declined to 2.93% from 2.95%.