Reported by Star-Bulletin staff & wire
Thursday, January 2, 1997
Reported by Star-Bulletin staff & wire
Thursday, January 2, 1997
WASHINGTON - Thirty-year, fixed-rate mortgages averaged 7.67 percent this week, up from 7.64 percent last week, according to a national survey released today by the Federal Home Loan Mortgage Corp. 30-year mortgages up slightly
to 7.67%On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.56 percent, down from 5.57 percent last week. Fifteen-year mortgages, a popular option for homeowners refinancing mortgages, averaged 7.18 percent this week, up from 7.16 percent a week earlier.
The rates do not include add-on fees known as points.
HILO - A Japanese paper company is pushing to get approval to open a major tree farming operation on the Big Island and state officials look poised to take the offer, state officials said. Japanese firm seeks OK for
Big Isle tree farmOji Paper Co., along with its partner Marubeni Corp. of Japan, has been seeking state approval for several months. It wants to lease 5,100 acres of Hamakua land for the tree farming.
The deal hasn't been finalized, but the state is "optimistic that we're going to be able to reach some sort of agreement," said Gil Coloma-Agaran, deputy to the chairman of the Board of Land and Natural Resources.
The state has been seeking tree farmers since 1995, but has yet to choose.
NEW YORK -- Telecommunications giant AT&T Corp. says it has distributed more than 100 million shares of common stock in NCR Corp. to AT&T shareholders, finalizing the spin-off of the money-losing computer unit it bought five years ago for $7.5 billion. AT&T completes spinoff of NCR
As previously announced, the distribution of 101.4 million shares was on the basis of 0.0625 a share of NCR for each AT&T share outstanding.
AT&T bought NCR Corp., which is more than 110 years old and was once known as the National Cash Register Co., for $7.5 billion in 1991 after a hard-fought takeover battle. AT&T officials have conceded the takeover was never as successful as hoped. NCR on Dec. 20 reported a $33 million loss in its third quarter for a fiscal year-to-date loss of $116 million.