Briefly
From Times wire services
* The average fixed rate on a 30-year mortgage fell last week to 5.80%, the lowest since early March, from 5.91% the week before, according to Freddie Mac. The 15-year fixed rate fell to 5.36% from 5.46%. The one-year adjustable rate dropped to 4.26% from 4.30%.
* California Insurance Commissioner John Garamendi proposed new regulations Monday that would require insurance companies to tell homeowners that their policies would be canceled if they file multiple claims.
* U.S. housing starts posted their steepest drop in more than 14 years in March, falling 17.6% to 2.23 million in February, the Commerce Department reported.
