Average 30-year loan rate falls to 3.57 percent, 3-year low

Mortgage buyer Freddie Mac said Thursday the average 30-year fixed-rate mortgage dipped to 3.57 percent from 3.61 percent last week.

The average rate on 15-year fixed-rate mortgages eased to 2.81 percent from 2.86 percent last week.

Prices of U.S. government bonds have been at high levels since the Federal Reserve's recent decision not to increase the benchmark interest rate — which it had raised from record lows in December.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week.