Below 3% Mortgage rates didn’t stay above 3% for long. After just one week, they slid back below that level. According to the latest data released by Freddie Mac, the 30-year fixed-rate average dropped to 2.98%. It was 3.02% a week ago and 3.0% a year ago, The Washington Post reports. The 15-year fixed-rate average fell to 2.26%. It was 2.34% a week ago and 2.56% a year ago. Read the full story.
Full rebound: A spike in holiday air travel ushered in a major milestone this week and could lead to a record-breaking weekend at airports nationwide, WWL-TV reports. According to the Transportation Security Administration, 2,147,090 people went through airport security checkpoints Thursday. That surpassed the 2019 checkpoint numbers for the same day. Read the full story.
Space wanted: As retailers beef up e-commerce operations and invest in faster delivery for customers, the appetite for warehouse space is rocketing higher, CNBC reports. This year, demand among mass merchandisers for logistics facilities to store inventory and pack and ship online orders will be the highest it has ever been, according to commercial real estate services firm JLL. Read the full story.
Editor’s note: The offices of Business Report will be closed on Monday, July 5, in observance of Independence Day. Daily Report will not be published, and will return on Tuesday, July 6. Have a safe and happy holiday.
