Mortgage Rates

Mortgage charges combined final week

mortgage-charges-combined-final-week

WASHINGTON – Mortgage rates were mixed last week. The top 30-year home loan fell below 3% for the fifth straight week as ongoing concerns about the escalating delta coronavirus variant and the progress of the economic recovery continued.

Mortgage buyer Freddie Mac reported Thursday that the average for the 30-year mortgage rose from 2.78% last week to 2.80%.

The key interest rate, which peaked this year at 3.18% in April, was 2.99% a year ago.

The interest rate on a 15 year loan, a popular option among homeowners refinancing their mortgages, has fallen to 2.10% from 2.12% last week.

As a new sign that the US has made a sustained recovery from the pandemic recession, the government reported Thursday that the economy grew at a solid 6.5% annual rate in the most recent quarter.

EU regulators punish Amazon

NEW YORK European regulators fined Amazon $ 886 million for data breach.

Amazon said in a government filing on Friday that the Luxembourg national data protection commission had issued a ruling against the company earlier this month alleging that the processing of personal data was not in compliance with the general data protection regulation of the European Union.

Amazon said the decision was unfounded and would vigorously defend itself.

Amazon has already been scrutinized by the EU.

In May, a court overturned a ruling by the European Commission that a tax treaty between Amazon and the Luxembourg government constituted illegal state aid.

From wire reportsIn November, regulators filed an antitrust lawsuit against the company, accusing Amazon of using its access to data from companies selling products on its platform to gain an unfair advantage over them.

While the US initially criticized the EU for targeting American companies, it has recently taken a tougher stance on big tech, suing Google last year for abusing its dominance in online search and advertising.

In May, a court overturned a ruling by the European Commission that a tax treaty between Amazon and the Luxembourg government constituted illegal state aid.

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