Average US rate on 30-year mortgage falls to 3.65 percent

Friday, February 5, 2016, Vol. 40, No. 6

WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week for the sixth straight week as markets around the globe continued the whipsaw trading that has marked this year so far.

Mortgage buyer Freddie Mac says the average rate on a 30-year fixed-rate mortgage dropped to 3.65 percent this week, down from 3.72 percent last week and close to its low point last year of 3.59 percent.

The average rate on a 15-year fixed-rate mortgage eased to 2.95 percent from 3.01 percent last week.

Mortgage rates have continued to fall despite the Federal Reserve's decision in December to raise the short-term rate it controls for the first time since 2006.

Global economic worries and the turmoil in world stock markets have pushed up prices of U.S. government bonds as investors seek safety.