Long-term U.S. mortgage rates fell this first week of May 2016, following the Federal Reserve’s decision not to raise its benchmark interest rate. The decline put long-term mortgage rates near their low levels for the year, offering an inducement to prospective home buyers during the spring buying season. Mortgage buyer Freddie Mac stated the average 30-year fixed-rate mortgage declined to 3.61% from 3.66% last week — far below its level a year ago of 3.80%. The average rate on 15-year fixed-rate mortgages slipped to 2.86% from 2.89% last week. Rates on adjustable five-year mortgages averaged 2.80% this week, down from 2.86% last week. These averages don’t include extra fees (points), which most borrowers pay to get the lowest rates. The average fee for these mortgage loans approximates 1/2 of 1% of the loan amount.