Mortgage rates linger near record lows

WASHINGTON » The average rate for 30-year fixed mortgage fell below 4 percent this week, staying near historic lows.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.99 percent from 4.08 percent last week. Last month the rate touched 3.87 percent, the lowest since long-term mortgages began in the 1950s.

The average rate on the 15-year fixed mortgage also fell, to 3.23 percent. That’s down from 3.30 percent last week and above the record low of 3.13 percent hit earlier this month.

Chinese factories to observe labor rules

NEW YORK » The Chinese workers who often spend more than 60 hours per week assembling iPhones and iPads will have their overtime curbed and hourly wages raised after a labor auditor hired by Apple Inc. inspected their factories.

The Washington-based Fair Labor Association says Hon Hai Precision Industry Co., the Taiwanese company that runs the factories, is committing to reducing weekly work time to the legal Chinese maximum of 49 hours.

That limit is routinely ignored in factories throughout China. Auret van Heerden, CEO of the FLA, said Hon Hai is the first company to commit to following the legal standard.

Apple’s and FLA’s own guidelines call for workweeks of 60 hours or less.

Civil Beat’s editor to join Washington Post

WASHINGTON » John Temple will join The Washington Post as a managing editor overseeing local, digital and other coverage.

Temple is a former editor and publisher of the Rocky Mountain News. He replaces Raju Nari setti, who left in January to become a deputy managing editor at The Wall Street Journal.

As managing editor, Temple will oversee local news, sports, arts and entertainment, food and travel coverage, along with the Post magazine and a local business section. He will be the paper’s senior digital editor. The Post’s other managing editor, Liz Spayd, will continue to oversee the paper’s national, foreign, business, investigative and style coverage.

Temple’s most recent position was founding editor and general manager of Hono lulu Civil Beat, a news website in Hawaii.

Temple will report to Executive Editor Marcus Brauchli.

BlackBerry maker changes focus

TORONTO » Struggling BlackBerry maker Research in Motion Ltd. said Thursday that it will cede most consumer markets and focus on business customers.

RIM has been struggling as Americans are abandoning their BlackBerrys for flashier touch-screen phones such as Apple’s iPhone and models that run Google’s Android software. BlackBerrys have been popular among business customers, in large part because of their security. But RIM has had limited success trying to enter consumer markets in recent years.

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ON THE MOVE

Outrigger Enterprises Group has announced the appointment of Roger K.L. Chan as restaurant manager of Kani Ka Pila Grille. He was previously an assistant restaurant manager and room service manager at Kahala Hotel and Resort.

Prudential Locations has hired the following new management team members:

» Arthur Keste loot Jr. as vice president of marketing. His experience includes being chief operating officer of 3D Travel, director of strategic account management and operations at AOL and advertising and regional sales manager at Walt Disney Internet Group.

» Ken Uemura as executive vice president of finance. His experience includes work as chief financial officer for Hawaii Pacific University and Pomare Ltd. (Hilo Hattie) as well as senior vice president and controller of C. Brewer & Co.

The Filipino Community Center has elected its officers for 2012 and appointed six members to its board of directors. Officers are Edmund Aczon, chair; Bryan Andaya, vice chair; Bennette Misalucha, vice chair; Clement Bautista, secretary; and Donnie Juan, treasurer. The new board members are Rosemarie Aquino, Paul Alimbuyao, Jeoffrey Cudiamat, Avelino J. Halagao Jr., Leslie C. Patacsil Chinn and Nobleza Magsanoc Lewis.