Roundup: Plan of Government meeting / Mortgage rates / Service sector

    Public input: Metro Council member Laurie Adams and Mayor pro-tem LaMont Cole are co-hosting a joint community meeting to provide an overview of proposed amendments to the city-parish Plan of Government and to allow residents to offer input. The proposed amendments have been available for public viewing since June 2019. The meeting is Tuesday, June 8, from 6 p.m. to 7:30 p.m. at the Main Branch Library, 7711 Goodwood Blvd. 

    Little change: Mortgage rates were flat to higher this week. The benchmark 30-year home loan remained below the 3% mark amid continued positive indications of the economy’s recovery from the pandemic recession. Mortgage buyer Freddie Mac reported today that the average for the 30-year rate rose to 2.99% from 2.95% last week. At this time last year, the average long-term rate stood at 3.18%. The rate for a 15-year loan was unchanged from last week at 2.27%. See the report. 

    All-time high: Growth in the services sector, where most Americans work, hit an all-time high in May as people flocked to bars, restaurants and other venues across the country. The Institute for Supply Management said today that its monthly survey of service industries jumped to a reading of 64, topping the previous high of 63.7 in March. It’s the 12th straight month of expansion in the services sector following a two-month contraction in April and May of last year when businesses were forced to shut down during the early stages of the pandemic. Read the full story.