---- — Event combines chocolate, crafting, spritzers
PLATTSBURGH — The War of 1812 Museum is hosting “Chocolate, Crafting & Spritzers” from 1 to 3 p.m. Saturday, Oct. 13.
The class will be taught by Melissa Boxer, independent consultant for Stampin’ Up. Boxer is an experienced crafter who will teach participants how to make four different holiday gift projects. Crafters will have the opportunity to dine on delicious chocolate desserts while enjoying a bubbly spritzer and visiting with others.
The cost of the class is $20, and includes all the supplies to complete four different projects, decadent chocolate desserts and a spritzer. Seating is limited, so reservations should be made by calling 566-1814 or e-mailing firstname.lastname@example.org in advance.
Rate on 30-year mortgage hits record low
WASHINGTON (AP) — Average U.S. rates on fixed mortgages fell again to new record lows last week. The decline suggests the Federal Reserve’s stimulus efforts may be having an impact on mortgage rates.
Mortgage buyer Freddie Mac said that the rate on the 30-year loan dropped to 3.40 percent. That’s down from the previous week’s rate of 3.49 percent, which was the lowest since long-term mortgages began in the 1950s.
The average on the 15-year fixed mortgage, a popular refinancing option, fell to 2.73 percent, down from the record low of 2.77 percent last week.
The Fed is spending $40 billion a month to buy mortgage-backed securities. The goal is to lower mortgage rates and help the housing recovery. Fed Chairman Ben Bernanke says the program will continue until there is substantial improvement in the job market.
Some economists expect mortgage rates to fall even further because of the Fed’s bond purchases.
The housing market already is benefiting from the lowest mortgage rates on record. Sales of both previously occupied and newly built homes in the U.S. are up from last year. Home prices are rising more consistently. And builders are more confident in the market and are starting to build more homes.
The broader economy is also likely to benefit from a revival in the housing market. When home prices rise, Americans typically feel wealthier and spend more.
Still, the housing market has a long way back. Sales and construction rates remain below healthy levels.