Legislative News

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Tempe Chamber of Commerce Week of June 7, 2021

National

US Average Mortgage Rates Tick Lower; 30-Year Loan at 2.96%

Mortgage rates remained near historic lows this week. The benchmark 30-year home loan held below the 3% mark amid further signs of the economy’s recovery from the pandemic recession.

Stocks rally, dollar stable after a jump in U.S. CPI data

NEW YORK/LONDON (Reuters) - Global stocks surged and bond yields were subdued on Thursday after a jump in U.S. inflation was seen as not enough to change the Federal Reserve’s view that rising consumer prices will be transitory or alter its easy monetary policy.

Consumer prices surge 5% annually, most since August 2008

U.S. consumer prices increased in May at the fastest annual rate in nearly 13 years as the economic comeback from COVID-19 lockdowns continues to build momentum.

State

Bid by GOP Arizona House Leaders to Pass Budget Falls Flat

The Arizona House failed to pass key portions of a $12.8 billion state budget that contains a massive $1.9 billion income tax cut after one Republican joined all Democrats in opposing the measure.

Why Intel and TSMC are building water-dependent chip factories in one of the driest U.S. states

The biggest semiconductor manufacturers in the world are quickly trying to build new factories as the global chip crisis continues to wreak havoc on a plethora of industries.

Arizona secretary of state, former TV anchor, and others join 2022 governor race

Candidates are lining up to become Arizona’s next governor in 2022 when Republican Doug Ducey terms out under state law.

Local

Habitat for Humanity reveals its first 3D-printed home in the nation in Tempe

Habitat for Humanity unveiled its progress on a 3D-printed home in Tempe on Wednesday, the first of its kind for the nonprofit in the country. The organization says this could be a possible solution to the lack of affordable housing in the Valley.

Real estate crowdfunding firm plans retail development acquisition in Tempe

Neighborhood Ventures, a Phoenix-based crowdfunding platform for real estate, is raising funds to purchase the firm’s first retail property, a multi-tenant site in Tempe near Mill Avenue and Broadway Road.