US long-term mortgage rates slip; 30-yr avg 4.06%

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U.S. long-term mortgage rates fell slightly this week, marking a fourth straight week of declines to lure prospective purchasers in the spring homebuying season.

Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year, fixed-rate mortgage slipped to 4.06% from 4.07% last week. By contrast, a year ago the benchmark rate stood at 4.66%.

The average rate for 15-year, fixed-rate home loans declined this week to 3.51% from 3.53% last week.

The U.S.-China trade war continued to fester this week, with negotiations on hold after the Trump administration slapped new tariffs on $200 billion in Chinese imports and Beijing retaliated with tariffs on $110 billion of U.S. products.

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