This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.
Washington • Average U.S. rates on fixed mortgages fell this week for a fourth straight week. The low rates could give a boost to the spring home-buying season, which has started slowly.
Mortgage buyer Freddie Mac says the average rate for a 30-year loan declined to 4.14 percent from 4.20 percent last week. The average for the 15-year mortgage eased to 3.25 percent from 3.29 percent.
Warmer weather has yet to boost home-buying as it normally does. Rising prices and higher rates have made affordability a problem for would-be buyers.
U.S home construction surged in April to its highest pace in five months, the government reported last Friday, but nearly all the increase came from the volatile apartment sector — a sign that Americans are still struggling to buy single-family homes.