Long-term U.S. mortgage rates edged lower this week.
Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate mortgages slipped to 3.89 percent from 3.90 percent last week. While historically low, that's still above last year's average of 3.65 percent. The benchmark rate stood at 3.43 percent a year ago.
The rate on 15-year, fixed-rate home loans, popular with homeowners who are refinancing their mortgages, fell to 3.16 percent from 3.18 percent last week.
Record-low interest rates have helped spur home purchases and boosted the housing market. Yet despite the low mortgage rates to lure prospective homebuyers, the housing market has remained hampered...