April 5, 2012 | last updated June 1, 2012 1:42 pm

30-year mortgage falls to 3.98 percent

The average U.S. rate on the 30-year fixed mortgage was mostly unchanged this week, as the cost of home-buying and refinancing stayed near record lows, The Associated Press reports.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan fell slightly to 3.98 percent from 3.99 percent last week. In February, the rate touched 3.87 percent, the lowest since long-term mortgages began in the 1950s.

The average rate on the 15-year fixed mortgage also fell, to 3.21 percent from 3.23 percent. That's above the record low of 3.13 percent hit last month.

Mortgage rates have been below 4 percent for all but one week since early December.

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