Average US rate on 30-year mortgage declines to 3.95 pct.; 15-year loan unchanged at 3.18 pct.

WASHINGTON (AP) -- Average long-term U.S. mortgage rates slipped this week after they climbed recently on expectations that the Federal Reserve may soon raise its key short-term interest rate.

Mortgage buyer Freddie Mac said Wednesday the average rate on a 30-year fixed-rate mortgage slipped to 3.95 percent from 3.97 percent a week earlier. The key 30-year rate was nearly unchanged from its level of a year ago, 3.97 percent. But the average has increased over the past months from 3.76 at the end of October.

The average on 15-year fixed-rate mortgages was unchanged at 3.18 percent.... Read More: Yahoo Finance