Business Briefs: Mortgage rates dip this week

Business Briefs: Mortgage rates dip this week

July 4th, 2014 by Staff Report in Business Around the Region

Mortgage rates dip this week

Despite the improving economy, home loan rates remain near historic lows. Mortgage company Freddie Mac said Thursday the nationwide average rate for a 30-year loan this week dipped to 4.12 percent, down from 4.14 last week. The average for the 15-year mortgage, which had taken a big dip the previous week, was unchanged this week at 3.22 percent. Rates on one-year adjustable mortgages averaged 2.38 percent this week, down from 2.40 percent last week.

Subaru recalls 660,000 cars

Subaru is recalling more than 660,000 cars and SUVs because the brake lines can rust and leak fluid, and that can mean it will take longer to stop the vehicles. For about half the vehicles, it's the second recall for the same problem.

Affected are 2005 through 2009 Legacy and Outback, the 2008 through 2014 Impreza and the 2009 through 2013 Forester. It covers vehicles sold or registered in states where salt is used to clear roads in the winter. The company says in documents posted Thursday by the U.S. National Highway Traffic Safety Administration that salty water can splash onto the brake lines through a gap in the fuel tank protector, causing rust.