Mortgage rates reach 2010 low

WASHINGTON » Mortgage rates have fallen to the lowest level of the year as investors poured money into the safe haven of U.S. government securities.

The average rate on a 30-year fixed rate mortgage dipped to 4.78 percent this week from 4.84 percent a week earlier, mortgage company Freddie Mac said yesterday. It was the lowest level since early December, when rates fell to a record low of 4.71 percent. The average rate on a 15-year fixed-rate mortgage fell this week to 4.21 percent—the lowest level in nearly two decades. Concerns over the European debt crisis have sent yields for 10-year and 30-year Treasury bonds to their lowest levels of 2010.

Costco profits jump 46 percent

PORTLAND, Ore. » Costco Wholesale Corp.'s profits surged 46 percent in its fiscal third quarter on stronger sales and membership revenue.

The company, based in Issaquah, Wash., earned $306 million, or 68 cents a share, compared with $210 million, or 48 cents a share, a year ago.

Revenue grew more than 12 percent to $17.78 billion.

ON THE MOVE

Hawaiian Airlines has appointed Blaine Miyasato to vice president of product development. He has 25 years with the company and was previously vice president of customer services in Hawaiian's operations department.

Clear Channel Radio Hawaii has appointed the following:

» Ryan Kawamoto as program director of KIKI (HOT 93.9) and KUCD (STAR 101.9).
» Chris Peters shifts to the 10 p.m. to 4 a.m. time slot on KSSK FM 92.3/AM 590.
» Brock Whaley rejoins as producer of the “;Mike Buck Show”; and weekends on KSSK FM 92.3/AM 590.
» James Coles as imaging director/production for KIKI (HOT 93.9).
» Glenn Molina as event coordinator for the promotions department.
» Kevin Jones adds voice track duties on KUCD (STAR 101.9).