Average rate on 30-year mortgage rises to 3.68%

WASHINGTON » Average long-term U.S. mortgage rates rose slightly this week but remain near historic lows with the spring home-buying season underway and showing strong sales.

Mortgage giant Freddie Mac said Thursday that the national average for a 30-year fixed-rate mortgage increased to 3.68 percent from 3.65 percent last week.

The average rate for a 15-year mortgage, popular with homeowners who refinance, ticked up to 2.94 percent from 2.92 percent.

A year ago the 30-year mortgage rate averaged 4.29 percent while the 15-year mortgage averaged 3.38 percent.

Rates have remained low despite the Federal Reserve’s decision last year to stop monthly bond purchases meant to hold down long-term interest rates.

On the Move

» Cadinha & Co. has promoted Arthur J. Mallet to managing director of systems and operations. He was previously vice president of operations for the company. In his new position, Mallet oversees daily operations, including administration trading and reporting for the firm as well as managing the IT program.

» Chun Kerr, a limited liability law partnership, has added three associates and named a chief operating officer:

— Daniel Cheng has been added as an associate, concentrating on real estate, business and commercial litigation.

— Kimi Ide-Foster as an associate, focusing on real estate, commercial finance and general business transactions.

— Imran Naeemullah as an associate, concentrating on real estate, finance and general business transactions as well as tax litigation.

— Laura K.M. Colbert has been named chief operating officer. She has more than 25 years of experience in organizational leadership.

Ship Ahoy!

Today’s ship arrivals and departures: