June 6, 2008 in City

30-year rates rise on loans

The Spokesman-Review
 

Rates on 30-year mortgages edged up this week to the highest level since March as investors worried about inflation threats.

The mortgage company Freddie Mac reported Thursday that 30-year fixed-rate mortgages averaged 6.09 percent, compared with 6.08 percent last week. It was the highest mark for 30-year mortgages in 12 weeks since averaging 6.13 percent the week of March 16.

Coeur d’Alene

Metals prices may save mine

Higher metals prices could bring new life to a Nevada mine owned by Coeur d’Alene Mines Corp.

Operations at the Rochester Mine were expected to wrap up in 2011, when the last remaining gold and silver is leached out of rock at the open-pit mine. Now, however, company officials said that date could be extended.

Last year, the company drilled seven test holes at the bottom of the open-pit to look for additional deposits. The firm found metals that could be economic to mine at current metals prices, said Dennis Wheeler, company chairman.

Spokane

Elephant Boys opens branch

Elephant Boys has opened its second Spokane-area location, at 29 E. Ermina on the city’s North Side. The first Elephant Boys opened in Spokane Valley earlier this year.

The company specializes in the sale and service of boats, motors and trailers.

It was established by Ed Conley, longtime co-owner of White Elephant Surplus Stores. Conley’s brothers continue to operate White Elephant.

Burbank, Calif.

Disney World now on Google

Tourists overwhelmed by the size of Walt Disney World in Orlando, Fla., will now be able to plan their tour with the help of a 3D Google Earth map created by The Walt Disney Co.

The map of the four theme parks and 22 hotels at Disney World shows souvenir shacks, merry-go-round horses and even benches for resting.

Disney called its entry the largest corporate initiative on Google Earth.


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