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US long-term mortgage rates flat; 30-year at 2.71%

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WASHINGTON – U.S. long-term mortgage rates were unchanged this week, remaining at record low levels against the backdrop of an economy punished by the pandemic.Mortgage finance giant Freddie Mac said Thursday that the average rate on the 30-year fixed-rate home loan remained at 2.71% from last week.

By contrast, the benchmark rate stood at 3.73% a year ago.The average rate on 15-year fixed-rate loans stayed at 2.26%.Home loan rates have trended downward through most of this year, bolstering demand from would-be homebuyers or people looking to refinance existing mortgages.

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Arizona Catholic priest resigns over wrongly-used word during baptism; what you should know about the mix-up - fox29.com - city Rome - state Arizona
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Arizona Catholic priest resigns over wrongly-used word during baptism; what you should know about the mix-up
PHOENIX - In a unique situation for people of the Roman Catholic faith, a priest is resigning after the church's Phoenix Diocese determined the words he was using during baptisms are wrong, meaning those baptisms are now rendered invalid.Here's what you should know about the mix-up.In a statement released by officials with the Roman Catholic Diocese of Phoenix, it was announced that all baptisms performed by a priest named Andres Arango until June 17, 2021 are presumed to be invalid due to the words that were used.At the center of the mix-up are the words "we" and "I." Diocesan officials say Arango should have used the following words during baptism:I baptize you in the Name of the Father and of the Son and of the Holy Spirit.Instead, diocesan officials say Arango used the following words:We baptize you in the Name of the Father and of the Son and of the Holy Spirit.Diocesan officials said baptisms performed by Arango after June 17, 2021 are presumed to be valid.In a letter to faithfuls, Phoenix Catholic Bishop Thomas Olmsted said the determination that baptisms performed by Arango are invalid was made "after careful study by diocesan officials and through consultation with the Congregation for the Doctrine of the Faith in Rome."Diocesan officials say the word change made a big difference for them."It is not the community that baptizes a person and incorporates them into the Church of Christ; rather, it is Christ, and Christ alone, who presides at all sacraments; therefore, it is Christ who baptizes," diocesan officials said, on their website.
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