Honolulu Star-Bulletin Local News
Business Briefs

Reported by Star-Bulletin staff & wire

Thursday, October 10, 1996

30-year mortgages drop
to 7.86 percent

WASHINGTON - Thirty-year, fixed rate mortgages averaged 7.86 percent this week, lowest in more than six months, according to a national survey released today by the Federal Home Loan Mortgage Corp.

They averaged 8.06 percent last week.

On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.68 percent, down from 5.70 percent last week. Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 7.38 percent this week, down from 7.58 percent a week earlier.

The rates do not include add-on fees known as points.


Isle companies push products in Chicago

More than 50 Hawaii companies will be in Chicago next week to promote visitor attractions, tours, activities, hotels and Hawaii-made gifts at a trade show for buyers of incentive packages for businesses.

Hawaii trips and gifts are a popular part of the incentive business, where companies buy package tours and other services to give to employees, usually as a reward for productivity.

The show is expected to attract 20,000 business buyers, said Rick Chapman, vice president of meetings, conventions and incentives at the Hawaii Visitors and Convention Bureau, who will lead the group.

The 63rd National Premium Incentive Show and Incentive Travel & Meetings Executives Show runs next Tuesday through Thursday.


Bottled Biersch beer to be sold in Hawaii

SAN JOSE, Calif. - Gordon Biersch Brewing Co. is getting into the bottled beer business with the help of some state-of-the-art, automated brewing equipment imported from a Bavarian brewery that traces its roots to the 17th century.

The first bottled beers are expected to roll off the assembly lines in 1997 for distribution in Northern California and Hawaii.

The new brewery will be capable of producing 50,000 barrels annually, including 11 million bottles and 35,000 kegs.


For more local, national and international business news,
see the Hawaii Inc. section in today's Honolulu Star-Bulletin.



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