WASHINGTON >> Long-term U.S. mortgage rates fell for a second straight week, slipping further from their highest levels of the year reached two weeks ago.

Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate home loans declined this week to 4.14 percent from 4.23 percent last week. The benchmark rate stood at 3.71 percent a year ago and averaged 3.65 percent in 2016, the lowest level in records dating to 1971.

The rate on 15-year mortgages eased to 3.39 percent from 3.44 percent.

U.S. economy grew in fourth quarter

WASHINGTON >> The U.S. economy grew at a slightly faster rate in the fourth quarter than earlier estimates, as consumers ramped up spending that’s expected to fuel growth throughout 2017.

The gross domestic product, the economy’s total output of goods and services, expanded at an annual rate of 2.1 percent in the October-December period, the Commerce Department reported Thursday. The figure is an improvement from the previous estimate of 1.9 percent. The added strength stemmed from stronger consumer spending, which offset an increased drag from trade.

Many economists project growth of around 2 percent in the current January-March quarter, but they expect greater strength as the year progresses as bullish consumers keep spending. The release Thursday was the government’s third look at GDP for the fourth quarter.

ON THE MOVE

Central Pacific Bank has appointed Joel Navarro to assistant vice president and senior commercial banking officer. Navarro was previously working for Title Guaranty Escrow Services, where for 12 years he managed its Lahaina Branch.

HomeBridge Financial Services in Hawaii has announced Michele “Mitch” Yamashiro is its new branch operations manager. She has 33 years of experience in the mortgage industry in Hawaii, including serving as an underwriter and processing manager for Wells Fargo Home Mortgage.

Hawaii State Federal Credit Union has announced that John Kinsaku Larry is a financial adviser for Hawaii State Investment Services, a division of the credit union providing retirement, investment and financial planning services to members through CUSO Financial Services. Larry has 17 years of financial representative experience, including working for HawaiiUSA Federal Credit Union and ING Aetna/American Express FA.