WASHINGTON (AP) — U.S. average rates on long-term mortgages fell this week amid signs that the halting economic recovery slowed over the summer. The key 30-year mortgage again marked an all-time low.
Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year home loan declined to 2.86% from 2.93% last week. By contrast, the rate averaged 3.56% a year ago.
The average rate on the 15-year fixed-rate mortgage slipped to 2.37% from 2.42% last week.
Housing demand continues as one of few bright spots in the pandemic-hobbled economy. Spurred by historically low rates, applications for mortgage loans are up 25% from a year ago, according to Freddie Mac. It said the momentum will be difficult to sustain going into the fall because of the lack of available homes for sale.
In the wider economy, the government reported Thursday that the number of Americans applying for unemployment benefits was unchanged last week at 884,000— a sign that layoffs remain stuck at a historically high level six months after the pandemic flattened the economy. Hiring has slowed since June, and a rising number of laid-off workers now say they regard their job loss as permanent.
Regulators authorized AstraZeneca’s coronavirus vaccine for use in adults throughout the European Union on Friday, amid criticism the bloc is not moving fast enough to vaccinate its population.
WASHINGTON (AP) — A former FBI lawyer was sentenced to probation for altering an email that the Justice Department relied on during its surveillance of an aide to President Donald Trump during the Russia investigation.
MADISON, Wis. (AP) — Democratic Gov. Tony Evers lashed out Friday at rival Republicans who tried to repeal his statewide mask mandate, saying killing the order would be a ridiculous move comparable to abolishing speed limits.
COLUMBIA, S.C. (AP) — As some conservatives in South Carolina celebrated getting a bill that would ban almost all abortions in the state past a legislative barrier and likely becoming law, they said they are not finished trying to end all abortions.
A Moscow court on Friday put the brother and several allies of Russian opposition leader Alexei Navalny under house arrest for two months as authorities sought to stymie more protests over the jailing of the top Kremlin foe.