Reported by Star-Bulletin staff & wire
Wednesday, November 27, 1996
Reported by Star-Bulletin staff & wire
Wednesday, November 27, 1996
WASHINGTON - Thirty-year, fixed-rate mortgages averaged 7.52 percent this week, down from 7.53 percent last week, according to a national survey released today by the Federal Home Loan Mortgage Corp. Thirty-year mortgages drop
slightly to 7.52%The slight decline pushed mortgage rates to their lowest levels since early March. The low-point for the year was 6.94 percent in early February, while the high-point was 8.42 percent in early July.
On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.50 percent, up from 5.48 percent last week. Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 7.04 percent this week, down from 7.06 percent a week earlier.
The rates do not include add-on fees known as points.
CHICAGO - United Airlines reached a tentative agreement with its 8,500 pilots, which includes four wage increases through the year 2000, the carrier's parent company UAL Corp. said today. United Air, pilots
reach tentative deal on wagesUnder the deal, the pilots represented by the Air Line Pilots Association would receive wage increases of 3 percent in both 1997 and 1998 and an additional 2 percent in both 1999 and 2000, UAL said.
Pilots will also be eligible for lump-sum profit-sharing payments in 1998 and 1999 based on the carrier's performance in the next two years, the airline said. ALPA members will vote on the proposal in December. Results of the ALPA vote are expected in mid-January.
Japan Airlines Co. is proposing to raise international air fares 3 percent on Dec. 15 to cover increases in fuel costs. Japan air carriers propose
fare increaseJAL said its proposed increase, subject to Japanese government approval, is based on a Nov. 15 agreement in Geneva by airlines that belong to the International Air Transport Association. JAL flies to Honolulu and Kona from several airports in Japan. Two other Japanese airlines that are planning Hawaii service, All Nippon Airways Co. and Japan Air System Co., said they also will raise international fares.