Business Briefs: Cox adds Gig in three cities

Business Briefs: Cox adds Gig in three cities

May 23rd, 2014 by Associated Press and Staff Report in Business Around the Region

Cox adds Gig in three cities

Cable company Cox Communications said Thursday it plans to boost Internet download speeds to 1 gigabit per second starting in Phoenix, Las Vegas and Omaha late this year. The new service would match what EPB offers across Chattanooga, the self-described "Gig city" and be in line with what Google is rolling out in cities such as Kansas City and Provo, Utah, and Austin, Texas.

Cox also said it plans to add 1 Gbps Internet speed to any new residential construction project in its footprint nationwide in places such as San Diego; Providence, Rhode Island; Orange County, California; Baton Rouge, Louisiana; and Tucson, Arizona. Such service is about 200 times faster than most broadband connection speed.

Mortgage rates fall for 4th week

Average U.S. rates on fixed mortgages fell this week for a fourth straight week. The low rates could give a boost to the spring home-buying season, which has started slowly.

Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year loan declined to 4.14 percent from 4.20 percent last week. The average for the 15-year mortgage eased to 3.25 percent from 3.29 percent.