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US long-term mortgage rates decline again

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WASHINGTON (AP) — US long-term mortgage rates went down for a second straight week, reversing the upward trend in April.

Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year fixed-rate mortgage fell from 4.14 percent last week to 4.1 percent. By contrast, a year ago the benchmark rate stood at 4.55 percent.

The average rate for 15-year fixed-rate home loans eased this week from 3.6 percent last week to 3.57 percent.