WASHINGTON (AP) — U.S. long-term mortgage rates fell this week to their lowest level in three months, deepening the incentive for prospective homebuyers although they face eroded affordability as prices continue to climb.

Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year fixed-rate mortgage declined to 3.60% from 3.65% last week. The benchmark rate stood at 4.45% a year ago.

The average rate on a 15-year mortgage eased to 3.04% from 3.09% last week.

Mortgage rates have shown stability in recent months, buoyed by positive economic data, a strong job market and improved sentiment in the housing market.