News You Ought To Know

Skyline Ranch hosts Down Syndrome Day event –
Skyline Ranch will host a free event in honor of World Down Syndrome Day from 9 a.m. to 2 p.m. Saturday at the facility at 1801 E.  Wheatland Road.

The celebration is open to the community and will include horseback riding, bounce houses, an information zone, music and food. For more information, call 817-781-6172.

30-year mortgages rate declines to 3.78 percent –
Average long-term U.S. mortgage rates fell this week, remaining near historically low levels at the start of the spring home-buying season. Mortgage giant Freddie Mac said Thursday the national average for a 30-year fixed-rate mortgage declined to 3.78 percent from 3.86 percent last week.

The average rate for a 15- year mortgage, popular with homeowners who refinance, slipped to 3.06 percent from 3.10 percent last week. A year ago, the average 30- year mortgage stood at 4.32 percent and the 15-year mortgage at 3.32 percent.

Mortgage rates have remained low even though the Federal Reserve in October ended its monthly bond purchases, designed to hold down long-term rates.

The Fed has kept short term rates near zero for over six years, and signaled Wednesday that it’s still not ready to start raising them.
The statement the Fed issued after its latest policy meeting indicated that it needs the job market to improve further and inflation to rise above low levels before it begins nudging rates up. Even then, the Fed suggested it will do so only very gradually.