Business digest

REGION

Ribbon-cutting ceremony for Youngstown Computer

NILES — Youngstown Computer will have a ribbon-cutting ceremony and open house today at its new location, 25 Main St. Joe Danyi, company owner, will cut the ribbon at 4 p.m., and the open house will follow from 5 to 9 p.m. Danyi then will show an outdoor, family-friendly movie from 9 to 11 p.m. The public is invited to bring blankets and chairs.

Youngstown Computer also has a store in Struthers. It offers computer repair, wired and wireless networking, software installation and configuration, Web site hosting and design and training classes.

Rates for home loans drop for third-straight week

McCLEAN, Va. — Rates for 30-year home loans dropped for the third-straight week, inching toward a record low reached earlier this year, Freddie Mac said Thursday.

The average rate for 30-year fixed mortgages was 5.14 percent this week, down from 5.2 percent last week. Last year at this time, the average rate for a 30-year mortgage was 6.26 percent, Freddie Mac said.

This week, the average rate on a 15-year fixed-rate mortgage fell to 4.63 percent, down from 4.69 percent last week, according to Freddie Mac.

From Vindicator staff and wire reports