US mortgage rates unchanged, at 3.73%

WASHINGTON (AP) — US long-term mortgage rates were unchanged this week, staying near historically low levels.

Mortgage buyer Freddie Mac says the average rate for a 30-year fixed-rate mortgage held at 3.73% for the second straight week. The benchmark rate was 4.62% a year ago.

Interest rates have tumbled over the past 12 months due to greater uncertainty over trade with China, slower economic growth, and the Federal Reserve cutting a benchmark rate regarding the interest on inter-bank loans.

The average rate on a 15-year mortgage stayed at 3.19% for a second consecutive week.