NATION

NATION

30-year mortgages remain unchanged

WASHINGTON — Rates on 30-year mortgages were unchanged this week but other rates showed declines. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages averaged 5.88 percent this week, where they have been for the past three weeks.

But other rates showed declines, which analysts attributed to rising hopes that the Federal Reserve, responding to weak economic data, will move at the end of this month to cut interest rates again. Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, dipped to 5.40 percent, down from 5.42 percent last week.

Progress reported in American Axle talks

DETROIT — Both sides in the nearly two-month strike against auto parts maker American Axle and Manufacturing Holdings Inc. are reporting progress in contract talks, but a company spokeswoman says a deal is not imminent.

On Wednesday, the United Auto Workers canceled a planned rally today to support the strikers, also citing progress in the talks. About 3,600 UAW members went on strike Feb. 26 at five plants in Michigan and New York in a dispute over wage and benefit cuts the company is seeking.

Associated Press