Average long-term US mortgage rate falls slightly, easing borrowing costs for home shoppers

The average long-term U.S. mortgage rate fell slightly this week, welcome news for home shoppers facing rising prices and a stubbornly low inventory of properties on the market this spring homebuying season. The average rate on a 30-year mortgage slipped to 6.79% from 6.87% last week, mortgage buyer Freddie Mac said Thursday. A year ago it averaged 5.56%, Freddie Mac said.