Mortgage Rates

Enterprise Information: Mortgage charges…GF employment & weapons

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US manufacturing growth accelerated in September to its highest level since May, despite supply chain issues. The Institute for Supply Management, a trading group of purchasing managers, announced Friday that the manufacturing activity index rose 61.1 percent in September, 1.2 percentage points from its 59.9 percent level in August.

Average long-term mortgage rates have skyrocketed this week as the 30 year benchmark loan is up over 3%. Mortgage buyer Freddie Mac reported Thursday that the average interest rate on a 30-year mortgage rose to 3.01% from 2.88% last week. The interest rate on a 15 year loan rose from 2.15% last week to 2.28%. One factor behind the upward pressure on rates was that the Federal Reserve last week signaled its belief that the economy has recovered sufficiently from the pandemic recession.

Minnesota employment gains were revised upwards by 2,600 total employment and 3,100 in the private sector in July. As a result, total employment rose from 0.5% to 0.6% in July and employment in the private sector from 0.4% to 0.5%. Accommodation and gastronomy experienced the greatest overhaul, with an additional 1,200 jobs created in July.

Grand Forks County’s unemployment rate was 2.8% in August. Seasonally adjusted, the unemployment rate in North Dakota was 3.6 percent below the previous year’s figure. Grand Forks employed 36,362 people – 1,017 were unemployed.

The North Dakota Industrial Commission has approved the program guidelines and is currently accepting grant applications for the Clean Sustainable Energy Authority through November 1, 2021. Legislators formed the Clean Sustainable Energy Authority and approved $ 25 million for the program and authorized the commission to borrow up to $ 250 million from the Bank of North Dakota. The guidelines state that a grant equal to 50% of the cost of a project can be awarded with a minimum of $ 1 million and a maximum of $ 10 million.

Governor Tim Walz joined the governors of Illinois, Indiana, Michigan, and Wisconsin to announce the establishment of a partnership to work on electric vehicle (EV) charging infrastructure across the Midwest and the Regional Electric Vehicle for the Midwest Memorandum of Understanding to sign. It is expected that an estimated 105,000 new utility jobs will be needed by 2030 to build the charging infrastructure for electric vehicles.

Governor Doug Burgum has appointed Becca Cruger, Human Resources Development Manager at Grand Forks Region Economic Development Corporation (EDC), to the North Dakota Workforce Development Council. The council serves as the state’s staff innovation and opportunity body.

The City of Grand Forks has granted planning permission for the Jackson Flats 2350 36th Avenue South project. The approval lists the price of the 40-unit home at $ 5.6 million.

Grand Forks Public Health (GFPH) announced the relocation of the semi-permanent COVID-19 vaccination clinic from Hugo’s Family Marketplace to the Grand Cities Mall. The clinic will be housed at the former location of Christian Bookshelf. The COVID-19 vaccination is free on this website, insurance is not required.

Wendy Hart Ross has been named assistant regional director for the management and administration of Inner Regions 3… 4… 5 in the American Midwest. She will move to the deputy position in late November after serving as Superintendent of Theodore Roosevelt National Park for the past seven years. In her new role, Ross will be part of the senior leadership team overseeing 58 national park units, 3 national hiking trails, and 8 national heritage areas in 13 states.

This is fire safety week. Grand Forks and East Grand Forks Fire Department. The Grand Forks Fire Department is hosting a number of events including visits to schools and preschools and a free smoke detector sweepstakes on Tuesdays from 6 p.m. to 9 p.m. at the central fire station. An open day is planned for EGF Station 1 in 415 4th St NW on Monday from 6 p.m. to 8 p.m. This year’s theme is “Learn the sounds of fire protection”.

Gun maker Smith & Wesson plans to relocate its headquarters from Massachusetts with a $ 125 million investment that will create 750 jobs in Tennessee. Founded in 1852, the company is currently based in Springfield, Massachusetts. Smith & Wesson Brands, Inc. is moving its headquarters, sales, assembly, and plastic injection molding operations to Maryville, according to Tennessee’s Department of Economic and Community Development.

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