WASHINGTON >> Long-term U.S. mortgage rates were flat to slightly higher this week with the spring home buying season well underway.

Mortgage buyer Freddie Mac said Thursday the average rate on 30-year, fixed-rate mortgages edged up to 4.42 percent from 4.40 percent last week. The benchmark stood at an average 4.08 percent a year ago.

Long-term rates fell last week, following a stretch of increases in January, February and early March as interest rates generally rose.

The average rate on 15-year, fixed-rate loans held steady this week at 3.87 percent.

State pension systems have big funding gaps

CHERRY HILL, N.J. >> A public employee pension crisis for state governments has deepened to a record level even after nearly nine years of economic recovery for the nation, according to a study released Thursday, leaving many states vulnerable if the economy hits a downturn.

The annual report from the Pew Charitable Trusts finds that public worker pension funds with heavy state government involvement owed retirees and current workers $4 trillion as of 2016. They had about $2.6 trillion in assets, creating a gap of about one-third, or a record $1.4 trillion.

Kentucky and New Jersey have the largest gaps, with just 31 percent of the needed funding, according to the report.

Just four states — New York, South Dakota, Tennessee and Wisconsin — had at least 90 percent funding.

Hawaii’s fiscal 2016 funded ratio was 51 percent, according to the survey. That ratio has now improved to 54.9 percent, according to the final Hawaii Employees’ Retirement System actuary report released in January for the fiscal year ended June 30.

Delta’s passenger, cargo revenue rise

Delta Air Lines Inc.’s first-quarter performance beat Wall Street’s expectations as passenger and cargo revenue improved. The company made $547 million, or 77 cents a share. A year earlier the Atlanta-based airline earned $561 million, or 77 cents a share.

Revenue climbed 9.5 percent, to $9.97 billion. Core passenger revenue rose a healthy 7 percent but was overshadowed by a 23 percent increase in cargo revenue and a 32 percent jump in a broad category of “other” revenue that includes money from the loyalty program.

ON THE MOVE

Kaiser Permanente Hawaii has announced the following:

>> Yvette Torres has been named the new director of environmental services. Torres will oversee the Environmental Services Department and ensure healthy and safe conditions at Kaiser Permanente facilities on Maui, Oahu and Hawaii island. Torres previously served in environmental services and patient transport positions at Sodexo and the Straub Medical Center for nearly six years. She also worked in similar positions for five years at The Queen’s Medical Center.

>> Dan Tyler is Kaiser Permanente’s newest director of continuing care. He will be responsible for long-term care as well as outside case management for the Hawaii region. Tyler joined Kaiser Permanente Hawaii in July 2016 and spent six months serving in the Brand, Communications and Public Relations Division. He then transitioned to an assistant position with the Kaiser Permanente Hawaii’s executive team in Moanalua Medical Center during January 2017.