US Bank provides equity investment

US Bank will provide a $250,000 equity investment to CommunityWorks, a nonprofit housing assistant organization in Bismarck.

The investment dollars will be used for the nonprofit’s “DREAM fund” revolving loan program.

“CommunityWorks is currently offering affordable housing assistance and services in 34 counties in North Dakota, and this investment from US Bank will provide significant capacity for us to reach all parts of the state,” said Paul Rechlin, executive director of CommunityWorks.

The mission of CommunityWorks is to develop and promote programs and activities to provide affordable housing for low- and moderate-income residents of North Dakota and Corson County, S.D.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.