Melting Pot closes after three years
Chattanooga’s Melting Pot restaurant has closed after three years of operation in East Brainerd. The local fondue eatery, located at 2553 Lifestyle Way, shut down Wednesday, idling its 30-employee staff. The chain continues to operate 145 other locaations, including one in Knoxville.
"The fondue franchise hopes to have a presence in Chattanooga again in the future," Alisha dos Santos, communications manager for Front Burner Brands, said in a statement.
Serendipity Cafe closes in Red Bank
The Serendipity Cafe in Red Bank is serving its last meals today, ending a 7-year cooking and restaurant venture for owner Judy Smith.
“It’s been a great experience, but it’s tough to make a business like this go in Red Bank so I’ve decided to retire,” she said. Smith said the city’s decision to remove the traffic cameras on Dayton Boulevard “is too little, too late” to aid her and other merchants along the city’s main thoroughfare.
Smith opened Serendipity Delights offering sweet treats made from her home in 2005. She later expanded the business into a speciality shop and then a restaurant in the former and shuttered Captain D’s location at 3510 Dayton Boulevard. The 55-seat restaurant will close for the last time today at 4 p.m.
Mortgage rates fall to record lows
Average U.S. rates on fixed mortgages fell again to record lows this week, suggesting the Federal Reserve’s stimulus efforts may be having its desired impact on long-term interest rates.
The average rate on the 30-year mortgage dropped to 3.40 percent. That’s down from last week’s 3.49 percent, the lowest since long-term mortgages began in the 1950s. The rate on the 15-year mortgage fell to 2.73 percent, down from last week’s record low 2.77 percent.