Briefly

* The average rate on a 30-year mortgage fell last week to 5.99% from 6.08% the week before, Freddie Mac said. The one-year adjustable rate fell to 4.08% from 4.17%. The 15-year fixed rate fell to 5.40% from 5.49%.

* The National Assn. of Realtors’ housing affordability index fell to 133.6 from 144.1 in the first quarter and was also lower than 143.8 in the second quarter of 2003. The index measures the ability of a family earning the median income to buy a home at the median price. In the second quarter, the median family income was $54,884 and the median priced home was $183,800.

* U.S. construction spending fell 0.3% in June from a record in May to an annual rate of $985.2 billion, the Commerce Department said Monday. The drop was the first in five months. Residential construction fell for the first time in 16 months.