Archive for the ‘In The News’ Category

Mortgage Rates At Lifetime Lows

Monday, May 24th, 2010

Here’s some good news for the struggling US housing market: Thanks to the European debt crisis, mortgage rates are at historic lows.

The current average rate for a 30 year fixed loan is 4.87 percent, according to Bankrate.com. That’s the lowest rate for the 30 years since Bankrate started keeping track 25 years ago.

Even jumbo loan rates-loans for more than $417,000-have fallen. The 30-year fixed jumbo loan is at an average rate of 4.5 percent, down from nearly 6 percent at this time last year.

“It’s the best time in our generation to buy,” says Mark Zandi, chief economist at Moody’s. “It may be the best time in any generation. Mortgage rates are so low and with homes prices down and lots of inventory, you couldn’t pick a better time to buy or re-finance.”

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City Car-Share Plan About To Go Public

Saturday, April 17th, 2010

Those ubiquitous white-and-blue Smart cars in the City of Austin’s nascent car-sharing program have spent a lot more time parked than rolling around Central Austin, based on statistics from the first three months of this year.

general public, officials said Tuesday, soon will get a chance to get behind the wheel of the tiny two-seat cars.

The 125 cars in the stable provided for city employee use by car2go, a Daimler AG subsidiary, have been “leased” about 118 times each weekday since Jan. 1, meaning that on average, each car has been taken out once a day. The average time of usage has been about 71 minutes. The city, under a pilot program that began in November, does not actually pay Daimler when its workers use the cars on municipal business, so the statistics do not reflect what usage might be if there were money involved.

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Austin’s Long Center – Recycling Builds “Iconic” Venue

Saturday, April 17th, 2010

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Austin Could Land 500 Jobs From Facebook, Chinese Solar Company

Monday, March 1st, 2010

Austin could land a solar panel manufacturing plant and a local office for the Facebook social networking service, projects that together could bring 500 jobs within the next few years, city and state officials said Thursday.

Facebook Inc. plans to create a 200-employee sales and operations center in Austin, and Yingli Green Energy Americas Inc. is considering Austin and Phoenix, Ariz., for a large solar panel manufacturing plant and its North American headquarters.

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