Long-term U.S. mortgage rates edged lower this week.
Mortgage buyer Freddie Mac says 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.