Business Briefs: CBS highlights EPB fiber optics

Business Briefs: CBS highlights EPB fiber optics

March 1st, 2013 by Staff Reports and Associated Press in Business Around the Region

CBS highlights EPB fiber optics

"CBS This Morning" on Thursday trained a spotlight on what network correspondent Jeff Glor called Chattanooga's "inspiring comeback story, and a blueprint for the future."

The network spent almost six minutes examining Chattanooga's gigabit Internet revolution, which has propelled its network ahead of rivals to become the fastest in the Western Hemisphere. The morning anchors marveled at the city's project, which was first conceived as a way to restore power outages faster. "This took more than a decade to plan out, and now they're seeing the fruits of their labor," Glor said.

Mortgage rates decline again

Average U.S. rates on fixed mortgages moved closer to historic lows this week, a trend that has helped drive a rebound in home sales.

Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year fixed mortgage declined to 3.51 percent from 3.56 percent last week. That's near the 3.31 percent rate reached in November, the lowest on records dating to 1971. The average rate on the 15-year fixed mortgage slipped to 2.76 percent from 2.77 last week. The record low is 2.63 percent.

The lowest mortgage rates in decades have helped the housing market recover. More people are buying homes, which has pushed up home prices. And ultra-low rates have encouraged more people to refinance. That often lowers monthly mortgage payments and leaves consumers with more spending money.

German Language School info ready

The German Language School of Cleveland, Tenn., together with the Central German Agency for Schools Abroad will present information today about the German language certificate and how it can be obtained in the Chattanooga area.

The language certificate is a component needed by students who apply for admission at post-secondary educational facilities in Germany.

Information will be presented at Walker Valley High School library from 5-7 p.m. today.