Average US rate on 30-year mortgage falls to 3.71 percent

Mortgage buyer Freddie Mac said Thursday the average rate on a 30-year, fixed-rate mortgage slipped to 3.71 percent from 3.73 percent last week.

The average rate on 15-year fixed-rate mortgages eased to 2.96 percent from 2.99 percent last week.

After the Federal Reserve's decision last week to keep a key interest rate unchanged in light of global economic pressures, prices of U.S. government bonds have risen sharply.