Average 30-year mortgage rate at 4.04%

Washington • Average long-term U.S. mortgage rates fell this week, retreating from high levels for the year amid economic turbulence overseas. The lower rates brought an incentive for prospective purchasers toward the end of the spring home buying season. Mortgage giant Freddie Mac says the average rate on a 30-year fixed-rate mortgage declined to 4.04 percent this week from 4.08 percent a week earlier. The rate on 15-year fixed-rate mortgages eased to 3.20 percent from 3.24 percent. Markets aro...

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