WASHINGTON >> Average long-term U.S. mortgage rates fell this week as anxiety over the global economy persisted. Long-term rates resumed their decline after being unchanged last week following six straight weeks of easing.

Mortgage buyer Freddie Mac said Thursday the average rate on a 30-year, fixed-rate mortgage slipped to 3.62 percent from 3.65 percent last week. That puts it well below the 3.80 percent it reached a year ago.

The average rate on 15-year fixed-rate mortgages declined to 2.93 percent from 2.95 percent last week.

Mortgage rates have continued to fall despite the Federal Reserve’s decision in December to raise the short-term rate it controls for the first time since 2006.

Global economic worries and turbulence in world stock markets have pushed up prices of U.S. government bonds as investors seek safety. That has depressed the yields on the bonds, which mortgage rates follow.

The yield on the 10-year Treasury bond has dropped to strikingly low levels below the significant 2-percent mark. The benchmark yield stood at 1.72 percent Thursday. That compares with 2.27 percent before the Fed’s rate hike Dec. 16.

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Associated Press

ON THE MOVE

Servco Automotive has named Kenneth Fu as fixed operations manager of Servco Subaru at its Servco Subaru Honolulu, Kaimuki and Maui dealerships. He previously served as aservice and parts manager of Servco Subaru Honolulu and began his career with the company in 2007.

PHOCUSED has announced that Scott Fuji has been named its executive director. The nonprofit, nonpartisan group is an advocacy and membership organization for human and healthservices in Hawaii which works with community stakeholders to affect policy and program change for the state’s most vulnerable residents. Fuji was previously director of programs atPHOCUSED since April 2014.

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