Page 4 Friday, January 8, 2021
THE GARDEN ISLAND
www.thegardenisland.com
SIX REFRIGERATION TRENDS
your fridge ready for new items when you’re on your way back from the grocery store.
BRANDPOINT
Long-term mortgage rates hit new lows; 30-year at 2.65% ASSOCIATED PRESS WASHINGTON — U.S. long-term mortgage rates declined this week to new record lows for the first week of 2021. The year opens against the continuing backdrop of damage from the coronavirus pandemic on the U.S. and global economies, which suppressed home loan rates through most of 2020. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year fixed-rate home loan slipped to 2.65% from 2.67% from last week. By contrast, the rate stood at 3.64% a year ago. The average rate on 15-year fixed-rate loans, popular among homeowners seeking to refinance their mortgages, ticked down to 2.16% from 2.17%. Mortgage rates are set to rise modestly this year as economic factors shift, according to Freddie Mac chief economist Sam Khater. The record-low lending rates have helped push buyers into the housing market, but a lack of available homes has left many would-be homebuyers empty-handed. The lack of supply has pushed prices up even before the pandemic struck last March. A continued rise in home prices could intensify the squeeze on potential purchasers during the spring homebuying season, Khater says.
The kitchen is one of the most important rooms in the house - especially now, when we’re all at home more than ever. And while we’re cooking more meals in and stocking up on necessities, having the right features and appliances can help make our lives in the kitchen easier when we all need it most. Whether you’re looking to improve capacity for storing essentials, or you simply want the most useful kitchen innovations, these are the top refrigeration trends to keep an eye on as we head into the holiday season and beyond: Fast, freshly filtered ice Have you been reaching for more ice water while at home? You’re not alone. A recent survey revealed that 50% of Americans consider themselves “ice obsessed,” with 53% realizing the need for better ice production at home during the COVID-19 pandemic and the same percentage saying no ice available means they simply drink less water. The survey also found that the average American consumes up to 116 glasses of ice per month or nearly 36 pounds! Always looking for ways to simplify life for consumers, the new QuickIcePro System refrigerator from Bosch is one of the fastest refrigerator ice makers in the industry, producing several pounds of freshly filtered ice a day at a rapid rate - which means you won’t be running out anytime soon. Fresh-food storage If you’re staying home, cooking more and making fewer trips to the store, you need extra storage
and features that will keep your food fresher longer. Refrigerators have come a long way in helping you maintain optimal freshness, especially when it comes to fresh produce. Look for options that offer precise temperature and humidity control, like the Bosch FarmFresh System, to take your food preservation to the next level and minimize waste. This advanced system uses four technologies to circulate cool air, filter out unwanted odors and ethylene gas, as well as remove the guesswork in storing items at the ideal environment. Energy-efficient technology Technology can also help you save energy and money at the same time. For example, refrigerators with automatic freezing functions return to normal operation
after reaching the required freezing temperature to save energy. As a result, frozen food keeps its flavor, even when new food is being added. And if you’ve ever accidently left your fridge or freezer open, you know it can be a costly mistake. Some refrigerators can help you avoid those high energy bills and spoiled food by sending a notification directly to your smartphone if a door has been left open. Smart refrigerators If you’ve ever been at the grocery store without a list, it’s likely you wished for a crystal ball to see inside your fridge. Connected appliances help make that wish come true with remote monitoring and diagnostics, fridge and pantry management, and quick-cooling capabilities that get
Two-in-one appliances Refrigeration isn’t only about keeping your food fresh. Storing beverages at the right temperature is just as important. In fact, 56% of Americans agree that having a drink at the wrong temperature has the potential to make their day less enjoyable. The new Bosch Refreshment Center refrigerator offers pre-programmed settings to take the guesswork out of achieving the optimal temperature for the beverages of your choice at the touch of a button - from red or white wine to beer, soda or other drinks. Plus, its industry-first, glass-front beverage drawer puts beverages in view and within reach in your kitchen, eliminating the need for a second appliance dedicated to drink storage elsewhere in your home. Easy organization Having a large fridge and freezer makes it easier to store more, but without organization, food can become lost or buried and go to waste. To make it easier, the new Bosch French door bottom mount refrigeration collection features organizational solutions like a FlexBar, split glass shelving and three-tiered freezer system to make it easier to keep all your ingredients organized, in view and within reach. Now more than ever, the kitchen has become a place that brings everyone together. Turn yours into the focal point of your home with these refrigeration trends for a happier and more efficient space.
Construction spending increases ASSOCIATED PRESS WASHINGTON — Spending on U.S. construction projects increased 0.9% in November as strength in home building offset weakness in other parts of the construction industry. The November gain followed a bigger 1.6% rise in October and left construction spending up 4.4% through the first 11 months of 2020 compared to the same period in 2019, according to the Commerce Department. For November, spending on residential construction rose 2.7% with single-family construction surging 5.1 percent while apartment construction was flat, according to the new data released Monday. Record low mortgage rates have spurred strong demand for housing even as a global pandemic resulted in widespread lock downs for other parts of the economy. While housing activity, fueled by low supplies of available homes, stands 16.1% higher than it did a year ago, spending on private nonresidential projects is 9.5% below the levels of a year ago with hotel and motel construction down 26.5% from the level in November 2019 and office construction down 6.6%. Many analysts believe the extended period of working from home for many Americans brought on by the coronavirus will translate into lower demand for office space in coming years as businesses opt to allow employees to do more work away from the office. For November, spending on non-residential projects fell 0.8% with spending for office buildings dropping a sharp 8.1%. Spending on government projects dipped 0.2% in November.
Is now the right time to refinance your mortgage? Consolidate your debt with a lower payment. You can get some of the lowest rates in the state, plus your money stays on Kaua‘i.
Visit us online at www.kgefcu.org to learn more. Anyone can be eligible for membership with KGEFCU