Average long-term US mortgage rate edges lower for the first time in five weeks

The average long-term U.S. mortgage rate edged lower for the first time in five weeks, a welcome shift for home shoppers this spring homebuying season. The average rate on a 30-year mortgage slipped to 6.88% from 6.94% last week, mortgage buyer Freddie Mac said Thursday. A year ago it averaged 5.95%, Freddie Mac said.