Mortgage Rates

Mortgage charges stay unchanged | The Spokesman-Evaluate

mortgage-charges-stay-unchanged-the-spokesman-evaluate

McLEAN, Virginia. Average long-term mortgage rate was unchanged from last week as the economy continues to show encouraging signs, even as hospital admissions continue to rise due to the delta variant of the coronavirus.

Mortgage buyer Freddie Mac said Thursday that the average interest rate on a 30-year mortgage is 2.87% as home demand has remained stable.

The key interest rate, which this year peaked at 3.18% in April, was 2.93% this time last year.

The interest rate on a 15 year loan, a popular option for homeowners refinancing their mortgages, rose from 2.17% last week to 2.18%.

Kraft Heinz settles charges

WASHINGTON – Federal regulators said Friday that Kraft Heinz Co. will pay $ 62 million to settle the accounting misconduct charge that led the company to report excessively rosy financial results that were later corrected.

Two former executives at the food company agreed to pay civil penalties, the Securities and Exchange Commission said.

The SEC said that from late 2015 through 2018, Kraft bragged about cost savings that were actually undeserved discounts and misleading reports on nearly 300 contracts with suppliers.

The company’s claims have been widely taken up by Wall Street analysts, the SEC said, but in 2019 Kraft revised its financial results to correct $ 208 million in misappropriated cost savings.

The SEC alleged that Klaus Hofmann, Kraft’s former chief procurement officer, approved improper contracts.

From wire reports

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