Average US 30-year mortgage rate falls to 4.12 percent

Markets Associated Press

This Tuesday, Dec. 6, 2016, photo, shows a house for sale in Coral Gables, Fla. On Thursday, Jan. 12, 2017, Freddie Mac reports on the week’s average U.S. mortgage rates. (AP Photo/Alan Diaz) (The Associated Press)

Long-term US mortgage rates fell this week, the second week of declines after snapping a nine-week run of increases.

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Mortgage buyer Freddie Mac says the rate on 30-year fixed-rate loans eased to an average 4.12 percent from 4.20 percent last week. That was still sharply higher than a 30-year rate that averaged 3.65 percent for all of 2016, the lowest level recorded from records going back to 1971. A year ago, the benchmark rate stood at 3.92 percent.

The average for a 15-year mortgage declined to 3.37 percent from 3.44 percent last week.