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In today's big story, we got our first interest-rate cut, but it doesn't feel like it for many consumers . We finally got an interest-rate cut, but borrowing costs are still high. First off, last month's interest-rate cut wasn't going to provide immediate relief. Yes, the average 30-year fixed mortgage rate has gone up 47 basis points since the Fed cut rates , writes BI's Matthew Fox. So the Fed cut rates but borrowing costs went up?
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Luxury EV maker Lucid appears to have a demand problem
  + stars: | 2023-02-24 | by ( John Rosevear | ) www.cnbc.com   time to read: +3 min
Luxury electric vehicle maker Lucid appears to have a demand problem. But clearly demand for Lucid's vehicles isn't materializing as quickly as the company expected, which raises some tough questions for investors. Running an auto factory well below capacity isn't exactly a route to profitability, as CFO Sherry House conceded during Lucid's earnings call. That leads to a second, related question: How long will Lucid have to run its factory at a loss? As long as it has the Saudi fund's backing, Lucid should be able to keep going.
"People for the most part have come to terms with interest rates." No return of 2008, or 3% mortgage rate The biggest reason why housing prices aren't plunging like they did after 2008? At current levels, the Housing Affordability Index says the median buyer can afford the median U.S. home — but barely. Having seen 6 percent interest rates when she bought her first place in 2007, she's not daunted by today's rates, she said. "People have wrapped their heads around where interest rates are, and they have adapted," Fisher said.
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