Average 30-year mortgage rate declines to 3.90 percent
WASHINGTON >> The average rate on the 30-year mortgage edged down this week to hover again above record lows. Cheaper rates have spurred modest improvements in the battered housing market, but not enough to signal a recovery.
Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year home loan fell to 3.90 percent from 3.95 percent the previous week. That’s slightly above the 3.87 percent average rate two weeks ago, the lowest since long-term mortgages began in the 1950s.
The average on the 15-year fixed mortgage fell to 3.17 percent from 3.19 percent a week ago. It was at a record low of 3.14 percent four weeks ago.
Mortgage rates have been below 4 percent for more than three months. That has made home-buying and refinancing more attractive for those who can qualify.
HawTel moves to Nasdaq Global Market
Hawaiian Telcom said it received approval to transfer its stock listing to the Nasdaq Global Market from the Nasdaq Capital Market.
The switch was effective Thursday. Shares will continue to trade under the HCOM ticker symbol.
"We are very pleased to have met the tougher listing standards of the Nasdaq Global Market," said Eric Yeaman, Hawaiian Telcom’s president and chief executive officer. "We believe that the transfer to the Global Market will further increase our stock exposure and improve our trading liquidity."
Hawaiian Telcom’s shares closed Thursday up 23 cents, or 1.5 percent, at $15.95. The company will release its fourth-quarter and full-year earnings on March 15.
Rainbowtique gets site at Windward Mall
Rainbowtique, a retail store operation of the University of Hawaii, will open a temporary outlet store at Windward Mall in Kaneohe from March 2 through April 1.
The temporary store will be on the ground level across from Champs Sports during regular mall hours. Items will sell at 40 percent to 50 percent off regular retail prices, or at greater discounts, such as five T-shirts for $10.
Its downtown location recently closed, but Rainbowtique continues to sell UH-branded apparel and accessories at Ward Centre and the Waikiki Beach Marriott Resort and Spa as well as at the Stan Sheriff Center and UH Manoa Bookstore.
Alamo opens new rental office in Waikiki
Alamo Rent A Car has opened a new branch in Waikiki at 151 Kailani Ave. This extends the Alamo network by adding to existing locations at Honolulu Airport, the Disney Aulani Resort & Spa and Waikiki Discovery Bay.
The new branch is staffed with Asian and European bilingual rental agents, and the vehicles at this location are outfitted with GPS devices that communicate in multiple languages, including Japanese, Korean and Chinese.
HomeStreet Pearl City branch open Saturday
HomeStreet Bank is extending retail banking hours to include Saturdays at its Pearl City branch at 98-1258 Kaahumanu St. The hours will be from 9 a.m. to 1 p.m.
American Savings gives $220,000 to schools
American Savings Bank is awarding $224,370 to public and private schools across the state, including more than $50,000 each to grand-prize winners Saint Louis School, Kamiloiki Elementary and Our Lady of Good Counsel as part of its third Bank for Education campaign.
During the campaign period from Sept. 16 through Dec. 15, customers opening a new qualified personal bank account can designate local schools to receive up to $40 per account based on certain criteria.
The schools receiving the most designations in each category of similar-size schools were awarded the grand prizes.
In addition to the grand-prize winners, American also awarded $10,000 to the remaining schools that received the highest number of customer designations in each county:
» City and County of Honolulu Prize — Farrington High School
» Maui County Prize — Maui Adventist School
» Kauai County Prize — Kapaa High School
» Hawaii County Prize — Konawaena High School
Legal Foundation accepting grant entries
Hawaii Women’s Legal Foundation is accepting applications for its 2012 grant requests from organizations and projects that help to improve the legal status and welfare of women and children in Hawaii.
HWLF considers grant applications three times a year — March, July and September. The deadline for receiving the next round of applications is March 9.
HWLF typically awards micro grants ranging from $500 to $5,000. HWLF prefers not to award funds for operational expenses, and instead prefers to make awards on a project-by-project basis or as a means to jump-start an organization’s funding sources.
HWLF’s primary criteria in considering funding applications include: 1) improving women and children’s access to the legal system; 2) reducing child abuse; 3) reducing domestic violence; 4) reducing sexual abuse; 5) increasing financial independence; and 6) improving women and children’s health, education and welfare.
Grant applications are available by email at Dianne Brookins at dbrookins@ahfi.com or Zale Okazaki at zale.okazaki@hawadvocate.com or online at www.hwlf.org/grants. For further information, call Okazaki at 537-6119 or Brookins at 524-1800.
On the Move
Pacific Biodiesel has named Kimberly Haueisen to the new position of grants director. She was previously program director at the Maui Economic Development Board for three years.
The American Cancer Society Hawaii Pacific has elected the following new board members: state Sen. Rosalyn Baker, board chairwoman; Dr. Melvin Paul Palalay, board president; Steven Ai, vice chairman; Dr. Daryl Kurozawa, vice president; Joseph Wikoff, past chairman; Dr. James Grobe, past president; Dr. Carla Nip-Sakamoto, secretary; and Michael Chang, treasurer. New board members are Darcy Endo-Omoto and state Sen. Joshua Green.
Ward Centers raised more than $200,000 for 140 local nonprofit organizations:
>> Ward Centers’ Festival of Giving raised more than $175,180 for 135 local nonprofit organizations and school groups.
>> Photos with Santa Paws raised $5,000 for the Hawaiian Humane Society.
>> The Honolulu City Lights Trolley tour raised $10,215 for the Hawaii Foodbank.
>> Ward Centers’ holiday gift wrapping stations raised $10,328 for the Leukemia & Lymphoma Society and Habitat for Humanity.
