Average rate on 15-year mortgage rises above 3%
The average U.S. rate on a 15-year fixed mortgage rose above 3 percent this week for the first time in a year, while the rate on the 30-year fixed loan approached 4 percent.
Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan jumped to 3.91 percent from 3.81 percent last week. That’s the highest since March 2012. The rate on the 15-year loan rose to 3.03 percent from 2.98 percent. That’s the highest since May.
Concerns that the Federal Reserve may scale back its bond purchases have pushed rates higher over the last month. Still, mortgage rates remain low by historical standards. The 30-year loan hit a record 3.31 percent rate in November. The 15-year loan fell to its low of 2.56 percent a month ago.
Alaska Air and pilots union reach accord
A new five-year contract for Alaska Airlines’ 1,480 pilots has been tentatively approved by the Air Line Pilots Association International.
The proposed contract includes pay raises and what a statement called quality of life and productivity improvements.
ALPA leadership is unanimously recommending that pilots ratify the agreement during voting in mid-July.
The current contract was ratified in May 2009 and became amendable April 1. Negotiators from both sides have been working toward the new contract since last summer.
Alaska Air and its partner airlines serve 95 markets in Alaska, Hawaii and the North American continent.
State targets deceptive travel promoters
The state of Hawaii has joined in a multistate, multinational law enforcement effort to combat deceptive travel promoters.
The Department of Commerce and Consumer Affairs Office of Consumer Protection announced today that it had joined the effort being led by the U.S. Federal Trade Commission, which has announced 80 civil enforcement actions by the commission and 28 states; more than 58 criminal prosecutions brought by U.S. attorneys and local law enforcement agencies nationwide; and 24 enforcement actions by international law enforcement agencies in eight countries.
Consumers should watch for red flags in travel scams including promises that a consumer has "won a free vacation" but some fees must be paid upfront; a company offering a prize wants a credit card number; and for phone calls, texts or emails that arrive out of the blue offering travel or other prizes.
Officials recommend researching official government websites or the Better Business Bureau website before engaging with any such company.
Lawsuits filed in hepatitis A outbreak
At least two law firms have filed lawsuits in the multistate hepatitis A outbreak linked to frozen berries sold at Costco and other stores.
Seattle-based Marler Clark filed a class-action lawsuit against berry producer Townsend Farms "on behalf of all individuals who received hepatitis A vaccination or immune globulin injections to prevent infection with hepatitis A after eating the frozen berry and pomegranate blend," the firm announced in a statement.
Houston-based Simon & Luke, which also specializes in food safety cases, filed suit along with co-counsel Gomez & Iagmin against Costco Corp. and Townsend Farms in Superior Court of San Diego County, Calif., on behalf of a consumer, after filing a previous suit in Los Angeles on Monday, on behalf of another consumer.
Ad 2 Honolulu wins national crown again
Ad 2 Honolulu has recaptured the national Public Service Campaign crown at the American Advertising Federation’s annual advertising conference in Phoenix.
It is the ninth first-place win for the group since its 2000-2001 campaign win, in competition against other Ad 2 chapters across the nation.
Each year, Ad 2 Honolulu creates a marketing campaign for a Hawaii nonprofit organization for free that is valued at roughly $1 million.
Its client this year was the Aloha Medical Mission Dental Clinic, Hawaii’s only free dental clinic.
Ad 2 Honolulu is comprised of advertising industry professionals age 32 or younger, and five members of the group were in Phoenix to accept the award.
On the Move
The Queen’s Medical Center has announced:
>> Hong K. Min has been named director of quality of clinical and financial services at the Queen’s Medical Center, West Oahu. He was previously director of planning and analysis at Kaiser Permanente.
>> Ellen Speier has been named director of support services at the Queen’s Medical Center, West Oahu. She was previously a health system administrator for Tripler Army Medical Center’s department of surgery.
Arancino Restaurants has appointed Aya Inamura vice president. She will be responsible for the revenue management, operations and marketing of the family business, where she has worked since she was 16 years old.
