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Mortgage rates mixed last week

UPDATED: Fri., July 30, 2021

WASHINGTON – Mortgage rates were mixed last week. The key 30-year home loan remained below 3% for the fifth straight week amid continued concern over the surging delta coronavirus variant and the progress of economic recovery.

Mortgage buyer Freddie Mac reported Thursday that the average for the 30-year mortgage edged up to 2.80% from 2.78% last week.

The benchmark rate, which reached a peak this year of 3.18% in April, stood at 2.99% a year ago.

The rate for a 15-year loan, a popular option among homeowners refinancing their mortgages, fell to 2.10% from 2.12% last week.

In a fresh sign that the U.S. has enjoyed a sustained recovery from the pandemic recession, the government reported Thursday that the economy grew at a solid 6.5% annual rate last quarter.

EU regulators fine Amazon

NEW YORK – European regulators have fined Amazon $886 million for data protection violations.

Amazon said in a regulatory filing on Friday that the Luxembourg National Commission for Data Protection issued a decision against the company earlier this month, claiming its processing of personal data did not comply with the European Union’s general data protection regulation.

Amazon said it believes the decision is without merit and that it will defend itself vigorously.

Amazon has come under scrutiny by the EU before.

In May a court annulled a ruling by the European Commission that a tax deal between Amazon and Luxembourg’s government amounted to illegal state support.

From wire reportsIn November regulators filed antitrust charges against the company, accusing Amazon of using its access to data from companies that sell products on its platform to gain an unfair advantage over them.

While the U.S. initially criticized the EU for targeting American companies, it has more recently started taking a tougher line on big tech as well, suing Google last year for abusing its dominance in online search and advertising.

In May a court annulled a ruling by the European Commission that a tax deal between Amazon and Luxembourg’s government amounted to illegal state support.

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