Saying the programs “have clearly achieved their objectives,” Treasury Secretary Steven Mnuchin is letting several emergency Federal Reserve lending programs put in place during the coronavirus pandemic to expire. The Federal Reserve Bank is urging an extension. Stock futures are mixed on the news.
Home sales have been a bright spot in the pandemic economy, and why not. U.S. long-term mortgage rates fell again this week, dipping to record lows for the 13th time this year. Mortgage buyer Freddie Mac says the average rate on the 30-year benchmark loan dropped to 2.72% from 2.84% last week. The average rate on the 15-year fixed-rate mortgage is down to 2.28% from 2.34%.
Storm and virus-battered Louisianans are getting a break.
Today and tomorrow state sales tax won’t be charged on most purchases, under a one-time sales tax holiday approved last month. The first $2,500 of most purchases in store or online are exempt from Louisiana’s 4.45% state sales tax, though local sales taxes apply. It also doesn’t cover buying a vehicle or business or commercial purchases.
