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Average long-term US mortgage rate falls

The average long-term U.S. mortgage rate fell again this week, positive news for potential homebuyers after rates reached their highest level since November earlier this month. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year home loan slipped to 6.69% from 6.71% last week. A year ago, the rate averaged 5.78%. Despite easing the past two weeks, the average rate is only down slightly from its 2023 high of 6.79% set in early June. The average rate on 15-year fixed-rate mortgages, popular with those refinancing their homes, rose this week to 6.10% ...

Producer prices drop 0.3% since April

WASHINGTON (AP) — Wholesale prices in the United States dropped 0.3% from April to May, another sign that inflationary pressures continue to ease in the face of repeated interest rate hikes by the Federal Reserve. The Labor Department’s producer price index — which measures inflation before it reaches consumers — rose 1.1% last month from May 2022, it said, the smallest year-over-year gain since December 2020. On a month-to-month basis, overall producer prices have now dropped three of the last four months. In May, wholesale inflation was pulled down by a 13.8% drop in ...

Retail sales rose 0.3% in May despite pressure from inflation

NEW YORK (AP) — Americans increased their spending at retailers last month despite pressure from still-high inflation and rising borrowing costs. Thursday’s report from the Commerce Department showed that retail sales rose 0.3% from April to May, boosted by stronger sales of auto and parts dealers. Economists had been expecting a decline in sales for the month. Last month’s increase pointed to a still-resilient economy, though retail sales have been bumpy this year after surging nearly 3% in January. Sales tumbled in February and March before recovering in April. The latest ...

Column: Delta Force students learn about healthcare at OSF

ESCANABA—Delta Force students learned from leaders in the healthcare field during their tour of OSF St. Francis Hospital & Medical Group on May 18. On Health and Human Services Day, DF students explored the issues impacting healthcare in our rural area, and went on a guided walking ...

Column: The power of community collaboration

ESCANABA — Most of us in our Escanaba community (and our vehicles) have travelled (and suffered) through the 9th Avenue North to North 30th Street extension road. For those unfamiliar with the territory, this commonly used road is the southern demarcation of the U.P. State Fairgrounds property and while the eastern paved portion is the responsibility of the City of Escanaba, the gravel section west of the train tracks crossing is actually private property of the UP State Fairgrounds. In addition to being a short alternative connection between North Lincoln/US 2 and North 30th Street ...

Alyssa Guindon hired as client relationship manager

ESCANABA — Only two years after the Escanaba office’s grand opening, thanks to Mary Feuerbach MBA, SHRM-CP, PHR, Benefits & HR Consultant & Managing Partner, it welcomes Escanaba native, Alyssa Guindon, to the team. Alyssa is a lifelong citizen of Escanaba and has strong roots in the community and surrounding areas. She currently resides in Escanaba with her husband, Dylan, and two children, Crew and Graham, and plans to continue to build their lives here while remaining active and engaged with the local businesses and community members. “There is no better place, in my ...