US mortgage rates remain low as home-buying season starts

WASHINGTON (AP) — Long-term U.S. mortgage rates stayed near 2016 lows this week, potentially good news for the housing market as the spring home-buying season begins.

The rate on five-year adjustable rate mortgages slipped to 2.81 percent from 2.84 percent last week.

The National Association of Realtors said Wednesday that sales of existing homes rose 5.1 percent last month to a seasonally adjusted annual rate of 5.33 million.