WASHINGTON >> Long-term U.S. mortgage rates fell this week, making it slightly more affordable to borrow for a home.

Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year fixed-rate mortgages slipped to 3.95 percent from 3.99 percent last week. The average has tumbled from 4.20 percent a year ago.

Relatively low mortgage rates have helped would-be homebuyers who are coping with rising housing costs. The National Association of Realtors said the median home sales price increased 5.8 percent from a year ago to $248,000 in November. Part of the reason why prices have risen so much is that the number of homes on the market has declined by nearly 10 percent since November 2016.

The average rate on 15-year fixed-rate mortgages fell to 3.38 percent from 3.44 percent in the prior week. This same rate averaged 3.44 percent last year.

Sears to close more than a hundred stores

NEW YORK >> Sears Holdings Corp. will be closing over 100 more stores as the struggling department store chain tries to turn around its business.

The Hoffman Estates, Ill.-based company said Thursday that includes 64 Kmart stores and 39 Sears stores that will be shuttered between early March and early April. No Hawaii stores are affected.

Liquidation sales will begin as soon as Jan. 12 at the stores.

A Sears spokesman said Thursday the number of workers affected was not available. The majority of the jobs are part-time positions, Sears said.

The move comes in addition to the closing of about 250 stores announced last year.

Sears has been selling off some its real estate and brands as it tries to raise cash.

Earlier Thursday, Macy’s Inc. announced it was closing 11 stores early this year. None of them are in Hawaii.

ON THE MOVE

Hawaii Pacific Health has announced that Dawn M. Dunbar is the new senior vice president of philanthropy. She has more than 20 years of professional experience, including previously having served as a co-founder, president and CEO of After-School All-Stars Hawaii. Prior to that, Dunbar was the vice president of corporate communications at American Savings Bank.

Primary Residential Mortgage has announced that Reid Goshi is its new loan officer. His responsibilities include residential mortgage loan origination and will be key in increasing branch production. Goshi has many years of supervisory and customer service experience.