Mid-States Services Announces Broadband Expansion

Local internet provider, Mid-States Services has announced plans to extend fiber broadband to parts of the rural area north and west of Gallatin, Missouri including Lake Viking and the community of Altamont. Governor Parson announced on Monday, January 23 that Mid-States Services, a subsidiary of Grundy Electric Cooperative was successful in obtaining a highly competitive $6.2 million grant from Missouri’s American Rescue Plan Act (ARPA). This funding will allow the company to offer services outside of Gallatin to additional underserved areas within Daviess County. The $8 million project will include 141 miles of fiber and serve over 720 homes and businesses. Gigabit upload and download fiber broadband speeds will be offered to consumers with unlimited data.

“The ARPA grant will allow us to expand fiber broadband and bridge the digital divide for residents in parts of rural Daviess County, including the communities of Lake Viking and Altamont” stated Grundy Electric Cooperative and Mid-States manager, Scott Wilson. “We are very excited to begin the construction phase of this project to provide residents and businesses within the project area access to the latest fiber technology and extremely fast internet speeds.”

Mid-States Services,

LLC was formed by Grundy Electric Cooperative, Inc. in 1999 to expand internet to underserved rural areas. Mid-States offers line-ofsite fixed wireless internet service to customers in Bethany, Cainsville, Eagleville, Galt, Gilman City, Jameson, Lake Viking, Mercer, Milan, Pattonsburg, Princeton and Ridgeway, MO and Lineville and Clio, IA. In 2018, MidStates began its first fiber broadband project in the City Limits of Trenton, and quickly thereafter expanded to the surrounding rural area. In 2021, the company completed construction of fiber broadband to residents within the city limits of Gallatin.

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Puzzle by Jacqueline E. Mathews

Falling mortgage rates

Homebuyers have seen some relief in recent weeks as mortgage rates fell to their lowest level since September. But with the Federal Reserve planning to keep interest rates elevated for some time, mortgage rates are unlikely to fall much further.

The average 30-year fixed-rate mortgage was

6.15% last week according to Freddie Mac.

That’s down from the recent historic high of

7.08% hit in early November. But in comparison, an average 30-year mortgage this time last year was 2.73%.

Driving the drop in rates has been investors’ hunt for higher yields, which has in turn pushed the prices of mortgages upward. In the bond market yield and price move in opposite directions, so higher prices mean lower yields Housing buyers have responded positively to falling rates, with the Mortgage Bankers Association reporting a steady increase in mortgage applications in recent weeks The housing market remains in a deep correction. Goldman Sachs told investors to expect price declines similar to 2008 in hot Sunbelt markets like Phoenix San Jose, California and Austin, Texas

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