Briefcase

Mortgage rates fall to another historic low

WASHINGTON – Fixed mortgage rates fell once again to a record low, offering a great opportunity for those who can afford to buy or refinance homes. But few are able to take advantage of the historic rates.

Freddie Mac said Thursday the average rate on the 30-year fixed mortgage fell to 3.89 percent. That’s below the previous record of 3.91 percent reached three weeks ago.

Records for mortgage rates date back to the 1950s.

The average on the 15-year fixed mortgage ticked down to 3.16 percent from a record 3.21 percent three weeks ago.

Mortgage rates are lower because they track the yield on the 10-year Treasury note, which fell below 2 percent. They could fall even lower this year if the Fed launches another round of bond purchases, as some economists expect.

Associated Press

Coca-Cola says it told feds about fungicide

WASHINGTON – Coca-Cola Co. acknowledged Thursday it was the company that alerted federal regulators about low levels of fungicide in its own orange juice and in competitors’ juice, prompting juice prices to rise and increased government testing for the residue.

The Food and Drug Administration and the Environmental Protection Agency have said orange juice is safe to drink and the levels found are below levels of concern.

Atlanta-based Coca-Cola, which makes the Minute Maid and Simply Orange brands of orange juice, said Thursday it had notified the FDA of the low levels of the fungicide carbendazim in its and in competitors’ juice.

Neither the FDA nor the company said which orange juice products tested positive. Carbendazim is not currently approved for use on citrus in the United States, but it is used to combat mold on orange trees in Brazil, which exports orange juice to the United States.

The FDA said Coca-Cola found levels up to 35 parts per billion of the fungicide, far below the European Union’s maximum residue level of 200 parts per billion. The U.S. government has not established a maximum residue level for carbendazim in orange juice, though the Environmental Protection Agency has said an assessment showed no risks of concern at up to 80 parts per billion.

Associated Press

Home Depot to hire 70,000 temp workers

ATLANTA – Home improvement retailer Home Depot Inc. said Thursday that it will hire 70,000 seasonal workers for the spring season, its biggest season.

The number is about the same as last year, company spokesman Stephen Holmes said.

Spring is the biggest season for home improvement projects as homeowners work on projects for their homes, gardens and lawns.

Last year, about half of the seasonal workers were hired permanently as cashiers and sales, lot and garden staffers. Home Depot employs about 300,000 workers overall.

Associated Press