Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Mortgage Rates Surge to 23-Year High
Mortgage Rates , Surge to 23-Year High.
Consumer demand for home loans has cooled as rates continue to surge, Fox News reports.
.
On Sept.
27, new data from the Mortgage Bankers Association showed that mortgage applications dropped 1.3% last week.
The average 30-year loan rate
jumped from 7.31% to 7.41%.
That is the highest mortgage rates have been since December 2000, Fox News reports.
Just one year ago, rates were at 5.65%.
Mortgage rates moved to their highest levels in over 20 years as Treasury yields increased late last week, Joel Kan, MBA's deputy chief economist, via Fox News.
Based on the FOMC’s most recent projections, rates are expected to be higher for longer, which drove the increase in Treasury yields, Joel Kan, MBA's deputy chief economist, via Fox News.
Mortgage applications are down 27% year-over-year, Fox News reports.
Refinancing applications have dropped 21% within the same time period.
Both prospective homebuyers and homeowners continue to feel the impact
of these elevated rates.
Many homeowners
have little incentive to refinance, Joel Kan, MBA's deputy chief economist, via Fox News
Homebuyers , Take Advantage of , Easing Mortgage Rates.
'Newsweek' reports that the number of mortgage
applications increased for the week ending June 21
as the cost of home loans has begun to ease. .
According to the Mortgage Bankers Association (MBA)
Market Composite Index, there was a nearly 1% increase
in mortgage applications from the week before.
MBA data shows that it is the third
consecutive week of an increase
in application numbers. .
At the same time, refinancing
activity was up 28% compared
to the same time in 2023.
In recent weeks, mortgage rates have trended
below 7%, helping to slightly reduce the cost of
monthly payments for potential homebuyers.
Mortgage rates were mostly
lower last week, with the 30-year
fixed rate declining slightly to
6.93 percent, the lowest level
in more than three months, Joel Kan, MBA's deputy chief economist, via 'Newsweek'.
According to Joel Kan, MBA's deputy chief economist,
the drop in rates has failed to convince more
homeowners to change the terms of their existing loans.
According to Redfin data, almost 90% of U.S.
homeowners have mortgages below 6%,
cheaper than the current market.
Purchase applications did see
a small increase after adjusting
for the Juneteenth holiday, Joel Kan, MBA's deputy chief economist, via 'Newsweek'.
Government purchase loans,
primarily FHA and VA, saw
gains of more than 2 percent
over the previous week,
as homebuyers in those segments
sought to take advantage
of the recent rate relief, Joel Kan, MBA's deputy chief economist, via 'Newsweek'
Credit: Wibbitz Top Stories Duration: 01:31Published
Fox News reporter Peter Doocy and White House Press Secretary Karine Jean-Pierre clashed over President Biden's plan to limit events after 8 PM. Doocy sarcastically questioned late-night decision-making, while Jean-Pierre insisted Biden was joking. The exchange highlighted tensions between the press and the White House. Biden's campaign team defended his schedule, comparing it to previous presidents and contrasting it with Trump's habits.
#FoxNews #PeterDoocy #KarineJeanPierre #WhiteHouse #WhiteHousePressBrief #WhiteHousenews #USnews #Biden #JoeBiden #Oneindia #Oneindianews
~HT.178~PR.320~ED.101~GR.124~
Spinach Recalled , After Testing Positive for Listeria.
Over 40 spinach products are being recalled after testing positive for the bacterial illness, according to federal health officials. .
The recall for "Fresh Spinach" was issued by
Solata Foods LLC in New York, Fox News reports. .
The spinach was tested by the New York State Department
of Agriculture and Market Food Inspectors.
Listeria was found in a "9-ounce package of Bogopa fresh spinach," Fox News reports. .
Production of the product has been halted.
Consumers are being advised to
return the affected product for a refund. .
No illnesses have been reported yet.
People who consume listeria can
develop listeriosis, which ranges in
severity and can last up to several weeks.
Symptoms include "fever, muscle aches, nausea, vomiting, and diarrhea," Fox News reports.
Serious cases can result in "headache, stiff neck, confusion, loss of balance and convulsions," Fox News reports.
The bacterial infection can be fatal in
children and other susceptible people.
Credit: Wibbitz Top Stories Duration: 01:31Published
Boycotts Lead SXSW to, Drop US Military Sponsors, for 2025 Festival.
On June 26, South by Southwest (SXSW) announced that the
United States Army would no longer be sponsoring the
2025 festival after boycotts by artists and panelists occurred in 2024.
On June 26, South by Southwest (SXSW) announced that the
United States Army would no longer be sponsoring the
2025 festival after boycotts by artists and panelists occurred in 2024.
After careful consideration,
we are revising our sponsorship
model. As a result, the U.S. Army,
and companies who engage in
weapons manufacturing, will
not be sponsors of SXSW 2025, SXSW statement, via Fox News.
Fox News reports that over 80 artists and panelists pulled
out of the 2024 festival "in solidarity with Palestine,"
according to the Austin for Palestine coalition.
Fox News reports that over 80 artists and panelists pulled
out of the 2024 festival "in solidarity with Palestine,"
according to the Austin for Palestine coalition.
The group called for a boycott of SXSW
over the organization's ties to the U.S. military
and weapons-manufacturing companies. .
In 2024, the U.S. Army, Defense Department, , Raytheon and L3Harris , all sponsored the SXSW festival.
In 2024, the U.S. Army, Defense Department, , Raytheon and L3Harris , all sponsored the SXSW festival.
We appreciated the opportunity
to join South by Southwest in 2024.
With U.S. Army Futures Command
headquartered in Austin, we value
any opportunity to join with our
community to ignite discovery
and make new connections. , Lt. Col. Jamie Dobson, U.S. Army Futures Command Spokesperson, via Fox News Digital.
The Army will continue to
seek opportunities to meet
technology innovators and
leaders, explore new ideas
and insights, and create dynamic
industry partnerships because
tomorrow is worth protecting. , Lt. Col. Jamie Dobson, U.S. Army Futures Command Spokesperson, via Fox News Digital.
Bands and artists participating in the boycott,
including Squirrel Flower, Scowl and Okay Shalom,
explained why they protested the 2024 festival. .
There are many ways SXSW is harmful
to working musicians, but I am pulling
out specifically because of the fact
that SXSW is platforming defense
contractors including Raytheon
subsidiaries as well as the U.S. Army,
a main sponsor of the festival, Squirrel Flower, also known as
Ella Williams, via Instagram.
Genocide profiteers like Raytheon
supply weapons to the IDF, paid for
by our taxes. A music festival should
not include war profiteers. I refuse
to be complicit in this and withdrawl
[sic] my art and labor in protest, Squirrel Flower, also known as
Ella Williams, via Instagram.
Genocide profiteers like Raytheon
supply weapons to the IDF, paid for
by our taxes. A music festival should
not include war profiteers. I refuse
to be complicit in this and withdrawl
[sic] my art and labor in protest, Squirrel Flower, also known as
Ella Williams, via Instagram
Credit: Wibbitz Top Stories Duration: 01:31Published
McDonald’s Ends , AI Drive-Thru Test With IBM.
Fox News reports that McDonald's has decided to end its artificial intelligence drive-thru program. .
According to 'Restaurant Business,'
McDonald's Chief Restaurant Officer Mason Smoot said
the decision was made "after a thoughtful review.".
McDonald's has decided to end
our current partnership with IBM
on AOT [automated order taking]
and the technology will be shut
off in all restaurants currently testing
it no later than July 26, 2024, Mason Smoot, McDonald's Chief
Restaurant Officer, via Fox News.
The program, which started
in 2021, saw over 100 McDonald's
locations help test the new technology.
While there have been successes
to date, we feel there is an
opportunity to explore voice
ordering solutions more broadly, Mason Smoot, McDonald's Chief
Restaurant Officer, via Fox News.
According to Smoot, McDonald's will make
"an informed decision on a future voice
ordering solution by the end of the year." .
The goal of the test was
to determine if an automated
voice ordering solution could
simplify operations for crew
and create a faster, improved
experience for our fans, McDonald's statement, via Fox News.
The company echoed Smoot's sentiment in
a statement to Fox News, while also addressing
the future of AI programs at McDonald's.
After thoughtful review, McDonald’s
has decided to end our current global
partnership with IBM on AOT beyond
this year. IBM remains a trusted
partner and we will still utilize
many of their products
across our global system, McDonald's statement, via Fox News.
We see tremendous opportunity in
advancing our restaurant technology
and will continue to evaluate
long-term, scalable solutions that
will help us make an informed decision
on a future voice ordering solution
by the end of the year, McDonald's statement, via Fox News.
We see tremendous opportunity in
advancing our restaurant technology
and will continue to evaluate
long-term, scalable solutions that
will help us make an informed decision
on a future voice ordering solution
by the end of the year, McDonald's statement, via Fox News
Credit: Wibbitz Top Stories Duration: 01:30Published
George Strait Sets New , US Concert Attendance Record.
Strait played in front of 110,905 fans at Texas A&M's Kyle Field on June 15, Fox News reports. .
The feat broke the all-time concert attendance record in the U.S. which was previously held by the Grateful Dead. .
The feat broke the all-time concert attendance record in the U.S. which was previously held by the Grateful Dead. .
In 1977, the Grateful Dead played to
107,019 fans at New Jersey's Raceway Park. .
Breaking records isn't anything new for Strait.
He has the most No. 1 singles in any music genre, and he's the only musician to get a top 10 hit every year for the past three decades, Fox News reports. .
He's also had the most No. 1 country albums, selling over 120 million records globally.
Among those in attendance at Kyle Field on
June 15 were Gov. Greg Abbott and Sen. Ted Cruz.
Among those in attendance at Kyle Field on
June 15 were Gov. Greg Abbott and Sen. Ted Cruz
Credit: Wibbitz Top Stories Duration: 01:30Published
Newly-apponinted chancellor, Rachel Reeves, has told the Treasury her central mission in government is to restore economic growth. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Mortgage Rates Continue , to Fall, Raising Hopes of the , Fed Cutting Rates.
ABC reports that borrowing costs for
home loans continued to ease this week,
with the average rate on a 30-year mortgage
falling to its lowest level since April.
According to mortgage buyer
Freddie Mac, the rate fell from
6.95% to 6.87% last week. .
That figure is still significantly higher than
what the rate was during the same time last year,
which was at an average of 6.67%. .
15-year fixed-rate mortgages
also eased, falling from
6.17% last week to 6.13%. .
During the same time last year,
the average rate was at 6.03%.
Those higher rates can add hundreds of dollars
to monthly costs for borrowers, which limits the
purchasing options of potential homebuyers.
Mortgage rates fell for
the third straight week
following signs of cooling
inflation and market
expectations of a
future Fed rate cut, Sam Khater, Freddie Mac’s chief economist, via ABC.
ABC reports that rates are influenced by a number
of factors, including the Federal Reserve's interest
rate policy and the 10-year Treasury yield.
ABC reports that rates are influenced by a number
of factors, including the Federal Reserve's interest
rate policy and the 10-year Treasury yield.
Due to yields also beginning to ease, the Federal
Reserve could start to drop its main interest rate
after hiking it up to the highest level in over 20 years.
Last week, Fed officials suggested that they would make
just one cut to their benchmark interest rate in 2024,
down from previous projections of three cuts for the year.
Credit: Wibbitz Top Stories Duration: 01:31Published
Demand For Mortgages , Reaches 27-Year Low .
NBC reports that mortgage rates have pulled
back slightly, after rising steadily for weeks.
However, the slight relief has
not been enough to..
Credit: Wibbitz Top Stories Duration: 01:30Published
![Homebuyers Take Advantage of Easing Mortgage Rates [Video]](https://video.newsserve.net/300/v/20240626/1379706172-Homebuyers-Take-Advantage-of-Easing-Mortgage-Rates.jpg)
!['If Nukes Launched...?’ Fox News Trolls White House Over Biden's Unavailability of Post 8 PM [Video]](https://video.newsserve.net/300/v/20240710/1381172222-If-Nukes-Launched-Fox-News-Trolls.jpg)
![Spinach Recalled After Testing Positive for Listeria [Video]](https://video.newsserve.net/300/v/20240628/1379908160-Spinach-Recalled-After-Testing-Positive-for-Listeria.jpg)
![Boycotts Lead SXSW to Drop US Military Sponsors for 2025 Festival [Video]](https://video.newsserve.net/300/v/20240627/1379820280-Boycotts-Lead-SXSW-to-Drop-US-Military-Sponsors.jpg)
![McDonald’s Ends AI Drive-Thru Test With IBM [Video]](https://video.newsserve.net/300/v/20240617/1378836034-McDonald-Ends-AI-Drive-Thru-Test-With.jpg)
![George Strait Sets New US Concert Attendance Record [Video]](https://video.newsserve.net/300/v/20240617/1378820332-George-Strait-Sets-New-US-Concert-Attendance-Record.jpg)
![Rachel Reeves gives first speech as chancellor in Treasury [Video]](https://video.newsserve.net/300/v/20240705/1380684226-Rachel-Reeves-gives-first-speech-as-chancellor-in.jpg)
![Mortgage Rates Continue to Fall, Raising Hopes of the Fed Cutting Rates [Video]](https://video.newsserve.net/300/v/20240620/1379139322-Mortgage-Rates-Continue-to-Fall-Raising-Hopes-of.jpg)
![Demand For Mortgages Reaches 27-Year Low [Video]](https://video.newsserve.net/300/v/20230906/1357570769-Demand-For-Mortgages-Reaches-27-Year-Low.jpg)
