Long-term mortgage rates flat to higher; 30-year at 3.75%

U.S. long-term mortgage rates were flat to slightly higher this week, hovering around three-year lows after the Federal Reserve's cut in its benchmark interest rate for the first time in a decade. The Fed announced the landmark rate cut Wednesday after a two-day meeting of its policymakers. Mortgage buyer Freddie Mac said Thursday the average rate on the key 30-year mortgage was unchanged from last week at 3.75%.