VOLUME 145 ISSUE 84 | WEEKEND EDITION, OCT. 25 – OCT. 26 | STANLYNEWSJOURNAL.COM
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Stanly NewS Journal THE STANLY COUNTY EDITION OF NORTH STATE JOURNAL
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Preparing for the future Work continues on the Highway 24/27 widening project east of Albemarle through the Uwharrie National Forest. Above, trees have been cleared on the north side of the highway (to the left) so power lines can be relocated further from the roadway.
WHAT’S HAPPENING Average long-term U.S. mortgage rate drops to 6.19%, lowest level in more than a year The average rate on a 30-year U.S. mortgage fell again this week, dropping to its lowest level in more than a year. The average long-term mortgage rate fell to 6.19% from 6.27% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.54%. The latest dip brings the average rate to its lowest levels since early October 2024, when it was at 6.12%. Mortgage rates are influenced by several factors, from the Federal Reserve’s interest rate policy decisions to bond market investors’ expectations for the economy and inflation.
U.S. home sales accelerated in September to fastest pace since February Sales of previously occupied U.S. homes accelerated in September as declining mortgage rates and a pickup in available properties on the market encouraged home shoppers. The National Association of Realtors said Thursday that existing home sales rose 1.5% last month from August to a seasonally adjusted annual rate of 4.06 million units. That’s the fastest sales pace since February. Sales jumped 4.1% compared with September last year. The national median sales price climbed 2.1% in September from a year earlier to $415,200.
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Stanly commissioners amend water line extension project funding Money was reallocated to the Meadow Creek water line extension project By Jesse Deal Stanly News Journal ALBEMARLE — The Stanly County Board of Commissioners recently passed an ordinance and corresponding budget amendments to rearrange funding within the county’s American Rescue Plan grant projects. At the board’s Oct. 20 meeting, the commissioners voted 7-0 to take $4,751 from the Stony Gap Road water line extension project budget to reallocate it to the Meadow Creek Church Road water line extension project budget. The reallocation was need-
COURTESY STANLYTV
The Stanly County Board of Commissioners voted to reallocate American Rescue Plan grant project funding on Oct. 20. ed to enable accurate quarterly reporting, keep each of the defined projects within their authorized budget amounts and ensure expenses are aligned with obligations. Stanly County has been granted a total allocation of $12.2 million from the Coronavirus State and Local Fiscal
Locust to host 10th annual fall festival The event will be held at the Locust Athletic Complex on Halloween By Jesse Deal Stanly News Journal LOCUST — Community members, residents and guests are all invited to celebrate Halloween night at the 10th annual Locust Fall Festival. The city’s fall festival, a celebratory gathering scheduled each Oct. 31, will take place from 6-8 p.m. at the Locust Athletic Complex. The free, family-friendly event is sponsored by local churches and businesses, and
it will feature trick-or-treating, bounce houses, games, candy, multiple inflatables and free hot dogs. Organized by a committee made up of representatives from local churches, in conjunction with the Locust Parks and Recreation Department, the festival provides a community-centered way to enjoy Halloween. “This is a free community event that provides a safe and fun alternative to trickor-treating door-to-door,” Locust Fall Festival organizers said in an event advertisement. “Come out and help us celebrate the 10th year See FESTIVAL, page A8
ber associated with that. Obviously, we can’t go over that obligation amount because that $12.199 million is all we’re going to get. When we put these budgets together, they’re estimates of what the total projects cost. Some come in a little higher, and some come in a little lower.” With the enacted changes, the amended budget for the Stony Gap Road water main extension from U.S. Highway 52 to N.C. Highway 24-27/73 is $3.2 million, while the budget for the Meadow Creek Church Road water main extension to the Locust Town Center is $1.8 million. Lucas noted that these reallocation amendments, including additional unused funding
Recovery Funds of H.R. 1319, the American Rescue Plan Act of 2021. “This board has taken action in the past to approve a project ordinance with all the different projects we funded with American Rescue Plan dollars,” County Manager Andy Lucas said. “It had a specific num- See BOARD, page A2
“This is a free community event that provides a safe and fun alternative to trick-ortreating door-todoor.” Locust Fall Festival organizers