US long-term mortgage rates hit new low; 30-year at 2.80%

WASHINGTON (AP) — U.S. long-term mortgage rates slipped this week as the key 30-year loan marked a new all-time low for the 11th time this year. Home loan rates have notched a year-long decline amid economic anxiety in the recession set off by the coronavirus pandemic. Mortgage buyer Freddie Mac reports that the average rate on the 30-year benchmark loan edged down to 2.80% from 2.81% last week. The average rate on the 15-year fixed-rate mortgage declined to 2.33% from 2.35%. The low borro