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Mortgage rates start the year at all-time lows

BY Ken Clark

According to data released Thursday by Freddie Mac, fixed-mortgage rates continue to hover near their all-time record lows, boosting home-buyer affordability and abetting the housing recovery.

The Primary Mortgage Market Survey showed 30-year fixed rates average 3.34% with an average 0.7 point for the week ending Jan. 3. That’s down from last week’s average of 3.35%. A year ago, the 30-year fixed rate mortgage (FRM) averaged 3.91%. 

Also, the 15-year FRM was down to an average 2.64%, with an average 0.7 point, down from last week when it averaged 2.65%. A year-ago, the 15-year FRM averaged 3.23%.

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Brower recalls top hatch egg incubators due to fire hazard

BY Ken Clark

An egg incubator sold at certain farm and ranch retailers and manufactured by Houghton, Iowa-based Hawkeye Steel Products’ Brower divison is being recalled.

The base can ignite during use, posing a fire hazard to the consumer, according to a release from the U.S. Consumer Product Safety Commission. No injuries have been reported, but Brower received three reports of fires, resulting in property damage.

About 2,500 of the Model TH120 Brower Top Hatch Incubators are being recalled. The products were sold at Mills Fleet Farm, Stromberg’s Chick and Gamebirds, Unlimited and other farm supply retailers from January 2009 to September 2010 for about $190.

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Industry Dashboard for Jan. 2, 2013

BY HBSDEALER Staff

Nine out of 10 stocks finished the year ahead of where they started, with SHW, BECN and WY up more than 50%. Elsewhere on the Dashboard, existing-home sales are running above last month, and well above last year.

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