From Freddie Mac: Long-term U.S. mortgage rates eased this week in a housing market battered by the shutdown spurred by the coronavirus pandemic. Rates hovered near all-time lows as the benchmark 30-year home loan stayed below 3.30% for the fourth-straight week. Mortgage buyer Freddie Mac reported this morning that the average rate on the 30-year loan declined to 3.24% from 3.28% last week. A year ago, the rate stood at 4.06%. The average rate on the 15-year fixed-rate mortgage slipped to 2.70% from 2.72% last week. Read the full story.
Growing season: The LSU AgCenter’s sugarcane specialist says farmers are pleased with the progress of the current crop. Kenneth Gravois says Louisiana farmers have benefitted from favorable weather and good growing conditions since planting last summer and fall. Warm and relatively dry spring weather has allowed farmers to get in the fields for plowing, timely herbicide and fertilizer applications, and laser leveling of fields. Read the full story.
Lotto upgrade: Louisiana is upgrading its flagship state lottery game. The Louisiana Lottery said it will begin offering starting jackpots of $500,000 for the Louisiana Lotto with the Aug. 5 drawing. The change doubles the starting jackpot and marks only the fourth time Lotto has changed in its 28-year history, KATC-TV reported.