Dropping: U.S. long-term mortgage rates fell this week amid continued uncertainty about the economy’s outlook. Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage dipped to 3.57% from 3.65% last week. A year ago, the average rate stood at 4.90%. The average rate for 15-year, fixed-rate home loans declined this week to 3.05% from 3.14% last week.
Honored: Ann Forte Trappey, president and CEO of Baton Rouge-based Forte and Tablada, will receive a 2019 Community Service Award from the American Council of Engineering Companies. The award recognizes a principal or manager of an ACEC member firm who has made a significant contribution to the quality of life in their community.
Dry as a bone: The furnace-like “flash drought” is intensifying as it blasts away the little moisture left across a vast swath of the South, wilting garden plants and raising alarm among farmers. Nearly 56 million residents are now living in drought conditions in parts of 16 states. The drought is classified as extreme in areas in Texas, Alabama, Georgia, Kentucky, South Carolina and Florida, though Louisiana has so far been spared. Read the full story.
