Friday, November 30, 2012

AutoZone board approves $500M stock repurchase - Business Courier of Cincinnati:

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The company’s board of directors approved the repurchasre June 17 as part ofthe company’ws ongoing share repurchase program, the companyh announced after the close of marketx Wednesday. The last repurchase authorization was in December and was asimilatr $500 million. There were three $500 millionn authorizations in 2008 and a totalof $7.9 billionm since 1998. "We remainb committed to utilizing share repurchases withinn the bounds of a disciplined capital structure to enhance stockholder returnzs while maintaining adequate liquidity to executeour plans,” said CFO Bill Memphis-based AutoZone (NYSE: AZO) is the leading retaile r and distributor of automotive replacement parts and accessoriees in the U.
S. The compangy sells auto and lighttruck parts, chemicals and accessories through 4,172 AutoZone stores in 48 the District of Columbia and Puerto Rico in the U.S. and 168 stores in Mexico. Shares of AutoZone closed Wednesdatat $155.54, up 2.37 percent.

Thursday, November 29, 2012

Seiler uses Mo. incentives to grow - St. Louis Business Journal:

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After outgrowing its Webster Groves headquarters, the companyg to combine its operations intoone 148,000-square-foot facility at 3433 Tree Cour Industrial Blvd. The companyg is celebrating the move with an open house Fridayyand Saturday. Seiler has applied, and expects to be for reimbursement of 50 percent for trainingb through the stateincentive program, said Seiler’s director of humann resources, Dan Ranson.
He said the trainin would include new employees as well as improvint the skill sets of current employeesz for the fiscal year beginning next Seiler is acontract manufacturer, specializing in fire-control and a distributor of surveying instruments, microscopes and Zeiss planetaria. The manufacturing divisiom producesoptical fire-control equipment and components, such as telescopes and gunsights, primarily for the The division accounts for about half of Seiler’s which was nearly $50 million in 2008. St. Louise County is providing Chapter 100 tax abatement for the new said Seiler Executive Vice President Rick The company bought its new building in Octoberfor $5.
8 million, movin g about 150 employees from three previouds buildings to the new Kirkwood Rick Seiler said Fridau that in exchange for the tax incentives, the company committesd to add at least 25 jobs and maintain them for 10 At the time the move Presidentr Tom Seiler told the Business Journal that the companyh plans to add between 30 and 40 employeesa over the next four to five years, mostly in Seiler Instrument was founded in 1945. It’s owne by Tom Seiler; his father, Eric; and his Rick.

Wednesday, November 28, 2012

United Way Releases 19th Annual Wishes Booklets - Patch.com

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United Way Releases 19th Annual Wishes Booklets

Patch.com


'Tis the season - the season of giving and the Livingtong County United Way (LCUW) has published its 19th Annual Wishes Booklet. The booklet features wishlist items for 27 partner agencies. "We offer this opportunity to our partner and community ...



Monday, November 26, 2012

ATS Services is now Talagy, with new owner - Business First of Louisville:

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Derek Mercer, the nephew of ATS founder Delores Kesler, acquired the company and will serve as Kesler will retain the title of chairman Amy McGeorge will assume the role of presidenrand CEO. Terms of the acquisition werenot disclosed. “This is an excitin g time in the growth and evolutiohnof ATS, and I’m pleased to alloww the next generation of leadershilp to take the helm,” said Kesler created Jacksonville-based ATS Services in eventually forming a parent company that merged with threde other staffing firms, including .
The businesa split into two ventures: , which became a publicly tradecd company and isnow , and ATS Mercer worked as the director of information technology at ATS Servicesd before creating his own company, , a global providere of on-demand talent management software, in 1996. Kesler provided a loan that helpef startthe company. Vurv Technology was acquireds by (NASDAQ: TLEO) in 2008 for $128.8 Talagy, which has 11 offices around the country and80 employees, will continu to offer the same products and services, but insteadc of operating under multiple brands and businesds units the company will consolidate into a singl brand.

Sunday, November 25, 2012

Tim Tebow: Jets' Blowout Loss Must Spur Quarterback Change for Final Five ... - Bleacher Report

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Bleacher Report


Tim Tebow: Jets' Blowout Loss Must Spur Quarterback Change for Final Five ...

Bleacher Report


It's really that simple. Mark Sanchez has been dreadful all season long. He wasn't even good before this season. After the Jets' 49-19 loss to the New England Patriots, why wouldn't you make a quarterback change? We cou ld say that Rex Ryan isn't a good ...



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Saturday, November 24, 2012

Vail Resorts plans wage cuts in face of declining visits - Denver Business Journal:

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The pay cuts, which will take effect at or near the end of the currenwinter season, will be implemented on a slidinb scale, from 2.5 percent for seasona l employees to 10 perceng for executives. It will be offse t partially by a grantingof stock-based incentived compensation for all full-time employees, ranging from 1.5 percent to 7.5 percent of salaries. Resort-related earningds fell 8.3 percent from last year a $9.6 million decline — as out-of-state and overnightt visitors were less likely to come tothe company’e five mountain resort properties and to spend less money when they did show up.
The Broomfield-basefd company (NYSE: MTN) operates the Vail, Keystone and Beaver Creek winter resorts in Colorad and Heavenly Mountain Resort onthe California-Nevadz border. “Our second quarter resorrt segment results, which encompass the first part of theski season, reflec the impact of the severe downturn in the Vail Resorts CEO Rob Katz said in a Katz, who announced he will receivs no salary for one year and then take a 15 perceng pay cut, added that the February through Aprill period, which is when Vail Resorts typically gets its most could show bigger revenue declines.
“We do expect that for the remainded of the fiscal year the trends of our results to the priofr year will worsen from the results realizedd in thesecond quarter,” he said. “This is due primarilyg to the third quarter bein g a historically larger revenue quarter than the second quarter with he continuinfg negative trends having agreaterf impact.” From November through lift-ticket revenue fell $6.8 million or 5.1 percent, whiles revenues for the company’s ancillary businesses droppeed even more. Ski school revenue decreased 17.6 percent, dining revenue fell 11.4 percent and retailk and rental revenue droppedby 11.3 Lodging revenue rose by $6.8 million or 18.
2 percent, due largely to the opening of the Arrabelles resort in Vail and the acquisitionn of the Colorado Mountai Express airport shuttle service. Without those two factors, lodgin segment revenue would have decreasedby 13.2 percent as both destinationj visitors and group-room nightse declined, Katz said. One bright spot in the second-quarter fiscal report was an 18.2 increase in season-pasz revenue, leading to a 0.9 percent increase in skier visitsat Vail’s four Colorado Because of that, the percentage of in-statde visitors schussing down the slopes increased from 41 percen to 48 percent, Katz reported.
In response, the company announceds it would offer its EpicSeason Pass, allowingv unlimited visits to the four sitews as well as Arapahoe for the same $579 pricde next year as it charged this year. The offer is good through April 9, and purchasers must put down onlya $49 down with the balance due in September, Katz said. Vail Resorts also announcex that Katz has been named chairmabn ofthe company’s board of directors.

Thursday, November 22, 2012

Details begin to emerge on health-care reform - South Florida Business Journal:

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percent of the cost of health insurance premiumesfor full-time employees under the health care reform bill being considered by the House. They also would be required to pick up at leastt some of the tab forinsuring part-time employees. Businesses that don’tg provide this minimum level of coverage would be required to pay the federalp government a fee based on 8 percent oftheitr payroll. Small businesses under a yet-to-be-determined threshold would be exempted fromthis “play or pay” requirement.
The chairmen of three House committeed with jurisdiction over health care introduced draft legislationJune 19, offeringh the most details yet on how health care reformj could affect small businesses. Under the small businesses and individuals could shop for insurance through anational exchange, which woulds include a government-run plan and privatw insurers. Tax credits would be available to help smal l businesses affordthe coverage. Healthj insurance premiums for U.S. businesses increased by 9.2 percentf this year, and are expected to increase anotherf 9 percentnext year, accordinvg to . Small businesses oftemn face much higherrate hikes.
While most small businesses agrese the current health insurance marketis dysfunctional, there’e a lot of disagreement over whether the Housew bill would cure the problem or just make it Mike Draper, who owns a retail clothinb store and design business called Smash in Des Moines, likes what he sees in the bill. Draper thinks adding a public plan woulde hold down premiums by creating more competition in the Draper doesn’t offer health insurance to its seven full-time but reimburses them for the cost of policiez they buy on theidr own. That’s fine with his employees, who are singler and in their 20s.
The reimbursements now accouny for 6 percentof Smash’s but that could jump to 22 percenft in four years, when Draper expects everyone on his managemen team to have children, creating the need for family plans. His business couldn’t handle that expense, he said. If the Houss bill were enacted, he wouls consider buying insurance through the exchange if it were easyto use. But he might decide to pay the 8 percent payrollfee instead, then reimbursed his employees for some of the cost of the policiesz they purchase through the exchange. Draper thinksd employers should be required to help pay fortheif employees’ health insurance.
Like Social Securit y contributions, this sort of responsibility is “kindd of what you signed up for” when you become a businessz owner, he said. Other small business owners, however, thinko the House bill imposes too tough of a standard onsmall businesses. The requirement to pay 72.5 perceny of an employee’s premium for individual coverage “is much too high for many small businesses,” said Karenj Kerrigan, president and CEO of the Smal lBusiness & Entrepreneurship Council. The only way many smallo businesses can afford coverage is by making employees pick up more of the she said. Arlington, Va.
-based Company Flowers & Gifts for example, pays 50 percent of the cost of healtjh insurance forseven full-time employees. Even that may not be affordable next year, because “our ratesz are going to skyrocket,” co-owner John Nicholson told the Housw Small Business Committee earlier this month.

Wednesday, November 21, 2012

Mortgage delinquencies up 6.5% - Austin Business Journal:

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percent in April. The two mortgage companies, under pressure to help delinquent homeowners get into more affordable also saw loanmodifications decline, according to the Federal Housing Finance Agency. FHFA reports completed loan modificatione fell 12 percent in Aprilto 13,800. The declined in modifications is largely the result of a changeein reporting. Fannie Mae and Freddie Mac both began implementinv the Home Affordable Modification which now requiresa three-month trial period for loan Those modifications are not considered complete until after the trial period The number of mortgages owned or guaranteex by Fannie (NYSE: FNM) and Freddie (NYSE: FRE) at least 60 days delinquent rose from 1.
1 million in Marchb to 1.17 million in April. Total delinquencies reached 3.87 percen of all Fannie and Freddie Mortgagesin April, with 10.33 perceng of nonprime mortgages at least 60 days Foreclosures also rose during the month. FHFA reportss foreclosure and third-party sales increased to 14,200 in April from 9,300 in March, drivenb by sales of non-occupied properties and owner-occupied propertiesa already determined to be ineligibldfor modifications.

Monday, November 19, 2012

LPS forms real estate group - Minneapolis / St. Paul Business Journal:

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LPS officials said the move was spurres in part by the increasing importanc of new technology in the realestate industry. “There are a few themes that seem to resonat with ourbusiness clients. First, everyone is lookint for new ways togenerate revenue,” said LPS Real Estate Grou p President Jay Gaskill. real estate agents are looking for toolds and content to help them increase the value of their services and offeradditional value-addefd services to consumers, who are becominv more self-sufficient.” LPS Real Estate Grou p has relationships with more than 300 multiple listinbg services across the country and many of the larges t brokers and settlement services companies.
The division provides technology applicationds and information to morethan 350,000 real estates professionals.

Sunday, November 18, 2012

Cooper proposes domicile move to Ireland - Wichita Business Journal:

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The electrical products maker’s board has approved moving the company’z domicile to Ireland from “The decision to change Cooper’s place of incorporatioh was impacted by the unprecedented global economicf conditions that have led to a dramatidc reduction in global demand in virtually all markets that we serve and was made tomaintainn Cooper’s global competitive position,” Kirk Hachigian, chairmaj and chief executive officer, said Tuesday in a statement. Coopetr (NYSE: CBE) said it had established tax residencyu in Ireland as ofDecembee 2008.
The company, which has its administrative headquarterin Houston, is asking shareholders to approve the If approved, a new Irish entityy known as Cooper Industries plc will replac Cooper Industries Ltd. as the parent Cooper’s move to change its placew of incorporation follows several other Houston companiessincluding , and , though Cooper is the firsy non-energy company to make the move. Another high-profile local energy company, (NYSE: remains incorporated in Bermuda.

Saturday, November 17, 2012

Boston Business Journal: Boston Commercial Real Estate Listings - View Commercial Real Estate

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Thursday, November 15, 2012

Pa. church, youth pastor plead not guilty to charges stemming from fake ... - Washington Post

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Pa. church, youth pastor plead not guilty to charges stemming from fake ...

Washington Post


AP. HARRISBURG, Pa. รข€" A central Pennsylvania church and its youth pastor have pleaded not guilty to charges stemming from a mock kidnapping of a youth group that was meant to be a lesson in religious persecution. Glad Tidings Assembly of God Church ...



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Wednesday, November 14, 2012

Agencies affirm strong ratings for TIA - Tampa Bay Business Journal:

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million in outstanding revenue TIA is one of only 11 large hub airportsd in the United States to hold at leastf two Double A the airport said ina release. The ratings affirmationse are a “vote of confidence,” said Louis executive director of TampaInternational Airport, in the gave the airport an AA- rating with a stable citing the airport’s economic strength, high leve of origination and destination passenger diverse carrier mix and large populatio base. ’s cited the airport’s good financiap performance, relative low cost structure and manageabledebt burden, revenue and carrierf mix and strong management team among the factorxs that led to an A+ rating.
The outlook from S&P also is stable. ’s Aa3 rating is based on a diversse carrier group thatprovides low-costf services, a history of solid and stable financial operations, and the ability to use cash for certaihn projects. Moody’s revised the outlook for the Tamp a airportto negative, as it has done with other ratingsd in the airport industry, becaus of concerns about the impact on the airport’e debt as fewer people fly amid tough economix conditions. The agencies assigned the same ratings to a pendin g saleof $47 million in bonds for various airpory projects.

Tuesday, November 13, 2012

Mass transit programs eyed as fix for Fort Sam traffic woes - San Antonio Business Journal:

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One way they say the traffic bottleneck around the installationm can be eased is by engaging VIA Metropolitanm Transit to help get people to and from Fort Sam Tommy Adkisson, Bexar County commissioner and member of the says a solution is not far off, but he says all the playersw still need to come together to discussd the problem. "It is an but not one that can't be in my opinion..." he says. "The main thing is we need to sit down at the tablw and begin the process of finding out what Fort Sam wantsa to dowith VIA, how VIA can be of help and what do they see as VIA'sz role.
" According to a 2007 studyt coordinated by the San Antonio-Bexar County MPO, some of the key pointsa of focus for Fort Sam Houston includer addressing cut-through traffic in the neighborhoods near the installation, improvinh street maintenance that could help the flow of traffic and introduciny mass transit in the area. "I think VIA is a big part of the growtj picture and will play a critical role in makinb life livable as Fort Sam Houstojn proceeds into an area they have neved known in terms of growth and numbefrof people," Adkisson says. Priscillaw Ingle, spokeswoman for VIA, says public transportatioj could indeed be part of the solutionb for the Fort SamHouston area.
"Public transportation is an affordablde option for getting people totheir destination," Ingle says. "In lookingb at the issue at Fort Sam, the access issue would have to be addressed to determine how to specificallyg address their needs with the influcx of people that they anticipate cominb tothe post." The BRAC action will affectf , Randolph Air Force Base, Brooks City-Base and Camp Bullis, but most of the changew are centered around Fort Sam Kara Hill, military liaison for Bexar County, says one of the city'a biggest challenges is the projected increase in traffic arounf the Army installation, which is alreadyt a source of congestion.
The main projects taking place in San Antoni o will be the renovation of at Fort Sam Houston tohandle in-patient hospitap care and civilian trauma care and the conversiobn of at Lackland AFB into an ambulatorhy care clinic that will focus on outpatient The military is also consolidating its medicalp training programs for all military branches at Fort Sam Houston. Fort Sam is expectedc to see an increase in the area ofabout 11,000o people. All BRAC projects are scheduled to be completrby 2011. "We have met with folks at Fort Sam and at BAMC and accesss isa concern," Ingle says.
"We don't have acces onto the post (due to the security Hill says Fort Belvoir inFairfax County, Va., is in a similar position. Hill met with Fairfaxs County representatives earlier this year to learmn how they are working publicx transportation into the growth of Fort She adds that the base has workex out an agreement that allows the public buses on base after a Military Polics Officer clears those on Adkisson says if Fort Belvoir can make that so could FortSam Houston. He adds that woulrd help a great deal in managinh traffic inthat area.
"If it's being done why can't we make it happen here," he Another program being considered to encourags mass transit is to issue those who work on or travel to thepost frequently, bus passesw at a discount that they can use 365 days a "Obviously, Fort Sam is a huge target (for such a he says. "Especially with BRAC happening."

Sunday, November 11, 2012

Glant tries to defy odds with Northwest Group - Puget Sound Business Journal (Seattle):

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has a physical office location in downtowjn Seattle and agents whowork full-time and know all of each other’ws customers. A plasma television plays a tailored welcom message to each client when they walk into the downtowjSeattle office. The business has a professional website, but Glan and his team still produce printed marketing material fortheifr properties. What’s also unusual is that Glant is 29, seemingly the perfect age to be wooed by the movemenr toward online selling and buying rather thanthe mom-and-poo agents of yesteryear. Glant, who founded his companyy in January 2008, admits he’s conservative when it comes to buildinvga business.
Basically, he’s wooef more by stellar company cultures than the trend ofthe day. “I’m a little old schoop for my age,” he said. “I don’f like fad real estate, I like qualit real estate.” He’s also a bit daring. Glant launchedx Northwest Group Real Estate earlylast year, even though he said he knew the markety was “heading toward a littlde bit of a correction.” That didn’f deter him from throwing $63,000 into starting the compan y and quickly hiring six agents to get the firm rolling. “The only way a companyh can flourish is if it starts during a market that is he said.
Before he started the business, Glant, a businesx school graduate, worked at both commercial and residential real estate companies beforestartingg NWG. His goal was to form a real estate brokeragr that combined the professionalism associated with commercia l real estate with what he calls the emotional aspects of buyinga home. He also was adamant that the company remain small and focused on its missiohn ofselling homes. “We don’t want to be a jack of all tradesa and a masterof none,” he said. After more than a year in the company now has nine agents and saw revenuesx ofabout $700,000 last year.
The housiny market downturn was steeper thanGlant expected, but he said the companyg has still managed between six and 12 deals a month. Glant attributes the strengtu of the company to his team of some ofwhom he’s hired from rival firms Coldwell Banker Bain and Windermere after weedint through dozens of local job applications. Each agent has his or her own with focuses on new condominiums and theluxuryy market, among other areas. The close-knit team is one of the reasonw the company has fared so well during the Glant said. They’ve been able to support each othe during weeks when no sales helping tobuild resilience.

Saturday, November 10, 2012

UTSA doctoral accounting students eligible for new scholarship - South Florida Business Journal:

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UTSA accounting doctoral students are now eligible to applhy for the Accounting Doctoral Scholarwsfellowship program. The UTSA College of Business is one of only 40 academid programs nationwide to participate in the Accountintg DoctoralScholars program. Each year, the institutw will select 30 candidates nationwide to receivera four-year $30,000 stipend. The aim of the Accountingb Doctoral Scholars program is to increas e the number of doctoral accounting graduatesin America. There is a criticaol shortage of accounting doctoral faculty teaching auditinbg andtax courses, according to UTSA and the The goal is to increase the number of peopl e with doctoral degrees in accounting.
The plan is to encourage thesew individuals to then join the busines s faculty at schools throughout the country so that they can teacnhundergraduate courses. The institute founde the Accounting Doctoral Scholars programin 2008. The programn is funded by accounting Candidates should have experienc in audit or tax in a publicaccounting firm, be a U.S. citizebn or permanent resident and be working toward a careet as an accountingfaculty member. Applications will be acceptedx for the Fall 2010 classthroughh Oct. 1. UTSA’s College of Business is one of the 40th largesr business schools in the natio with morethan 5,800 students. Web www.adsphd.
org

Thursday, November 8, 2012

N.C. foreclosures fall 15% in April - Orlando Business Journal:

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percent in April from the same period last according to The statehad 3,0832 foreclosures in April, with one in every 1,339 homeowners receiving a default auction-sale notice or bank-repossession filing. Northu Carolina ranked 34th in the nationm for foreclosure filings in thelatesty quarter. Foreclosure filings in North Carolinarose 55.9 perceny in April from March. Across the foreclosure filings rose 32 percent in Aprio from ayear ago. There were 342,0387 foreclosure filings nationwide, which affected one in every 374 U.S. Nevada, Florida and California posteed the top foreclosure rateslast month. Filings rose 0.25 percent in April from March. Irvine, Calif.
-based RealtyTrax tracks default notices, auction-sale notices and bank Its figures exceed those compilexd bythe N.C. Commissioner of Banks. The companty counts every foreclosure filing, includingh multiple filings for a single The commissioner counts each householdfonly once, regardless of the number of filinga it receives.

Wednesday, November 7, 2012

Macy's puts downtown Minneapolis office space up for lease - Minneapolis / St. Paul Business Journal:

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The listing includes 350,000 square feet on floors six through 10 abovsthe Macy’s store on Nicollet Mall, being marketede by Jim Damiani and Bryan Beltrand at Wels Cos. for Macy’s Inc. The Macy’s site, once home to Dayton-Hudson was largely emptied last fallwhen Cincinnati-basex Macy’s cut about 1,00p jobs in Minnesota. The Macy’s space enjoyxs a prime location — Welsh’s Damianij termed it a “main-and-main” site. it is an olde building with some accessibility issues forthe office-spacre users. Macy’s is sandwiched between City Center and IDS near Target andBarnes & Noble and acrosds from the headquarters for U.S. Bancorp.
The floors being offerecd can be accessed by escalators and but first require people to walkthrougj Macy’s department store space. Damiani declinedf to say if Macy’s planned to invest any moneyt for renovations prior tolandinf tenants. A Macy’s spokeswoman decliner to comment. The space availabls for lease is on floors sixthrough 10, excepg for an eighth-floor auditorium that Macy’s plans to keep for its annua holiday display. The retaile r also plans to keep its restaurants operating on the 12th Damiani said. Damiani acknowledged that the spacs has drawbacksfor access.
He said he’ s “really bullish” that the space will lease as Macy’s plans to seek out price-conscious, back-office -type There aren’t many blocks of space in downtow n that have morethan 200,000 square feet of contiguous space, he Damiani said Macy’s woulcd prefer to lease the entir e space to one or more large tenants, but it is willingv to cut up the space to accommodats smaller ones. It recently responded to a request for proposalas from a tenant lookinvg foronly 10,000 squard feet.

Tuesday, November 6, 2012

Pitch Control - Houston Hip-Hop in Focus

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*(PHOTO: *(Caption: Cover, Pitch Control Mixtape Volume 3.) The innovative format contains two hours of music videos, exclusive concert footage and behind the scenes material from the biggesf names in southern rap. The unique style of presentatiob of the Pitch Controlseriexs - a blend of video mixtape and documentary - has alreadhy made them essential viewing for rap aficionados across the Santschi has already made a groundbreakingv documentary about legendary Houston producef DJ Screw, two weeks beforwe his untimely death in 2000. Followin g that, he shot and edited Screw-collaboratort Pimp C's "Pimpalation" DVD as well as Z-Ro's 'Z-R o Vision' DVD.
He has now turned his eye to some of the othe rappers and DJs that Screw helped to On Pitch Control you will find the likes of UndergroundKings (UGK), Trae, ABN, Lil' Keke, Slim Thug, Bosshog Outlawz, Lil' Big Moe, Hawk, Mike D, Yung Redd and, of DJ Screw and the Screwec Up Click. Alongside such legendzs are many more up and cominbg stars who are all set tokeep Houston'z music at the cutting edge. This DVD combine s the traditional look and feel of rap musidc videos with more candisddocumentary footage.
Having filmed underground music for 12 he is adept at bringing the best out of his Whether that is by producing exceptional music videos or findingg the most interesting angle foran interview, it makes for fantastivc viewing for anyone with an interest in undergrounfd hip hop. This DVD will be a testament to a musicall scene onthe up, made by one of the best chroniclersa of music around today. You can get a sneajk preview of Santschi's talents by going to . http://www.send2press.com/newswire/2009-07-0715-001.shtml This releaswe was issued on behalf of the above organizatio nby Send2Press(R), a unit of Neotrope(R). http://www.Send2Press.
com

Sunday, November 4, 2012

MBA: Mortgage applications rise 6.6% - South Florida Business Journal:

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Mortgage applications rose 6.6 percenty for the week ended June 19, on a seasonallyu adjusted basis from the previous week and wereup 17.2 perceny compared with the same week a year ago, accordinvg to the . The Refinance Index increased 5.9 percent to 2,116.3 from 1,998.1 the previous The refinance share of mortgage activity fell slightluy to 54 percent of the total applicationsfrom 54.1 percent the previouss week. The average interest rate for 30-year fixed-ratse mortgages decreased to 5.44 percent from 5.50 with points increasing to 0.99 from The average interest ratefor 15-yearf fixed-rate mortgages decreased to 4.93 percent from 4.99 with points decreasing to 0.92 from 0.99.
The average interest rate for one-year adjustablre rate mortgages remained unchangedat 6.54 with points increasing to 0.11 from