NATION

NATION

Rates for home loans continue their drop

McLEAN, Va. — Average rates for 30-year home loans stayed below 5 percent for the second-straight week, kick-starting refinancing activity, Freddie Mac said Thursday.

The average rate on a 30-year fixed mortgage was 4.87 percent, down from 4.94 percent last week, Freddie Mac said. The last time rates for 30-year home loans were lower was the week ending May 21, when they averaged 4.82 percent.

The average rate on a 15-year fixed mortgage fell to 4.33 percent from 4.36 percent last week, according to Freddie Mac. This week’s rate on 15-year mortgages was the lowest since Freddie Mac started tracking it in 1991.

Count on more, longer flight delays at airports

DALLAS — Lengthy airline delays are twice as common now as in 1990 and will get worse as the economy recovers, according to a Brookings Institution report released Thursday.

The researchers said much of the problem is due to heavy concentrations of short trips between big cities, but they also cited an “ill-equipped” air traffic control system and other factors.

They suggested increasing high-speed rail service to offer travelers alternatives to short flights. They also recommended letting busy airports charge fees on rush-hour flights to make airlines spread trips more evenly through the day.

Associated Press