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Mortgage rates have been inching down this week, and they're expected to fall further later this year. Once the Fed begins cutting rates, mortgage rates should trend down more permanently. But until we get more data showing that price growth is moderating, mortgage rates may be somewhat unpredictable. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched up to 6.21% last week, according to Freddie Mac data.

Persons: you'll, Freddie Mac, it's Organizations: Federal Reserve, Investors, Zillow Locations: Chevron

☆ Home prices will 'go through the roof' as soon as rates come down a single percentage point, 'Shark Tank' investor Barbara Corcoran says
▼ + stars: | 2024-03-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Home prices will soar the moment mortgage rates drop to 6%, Barbara Cocoran predicted. The "Shark Tank" investor is anticipating a wave of buyers coming to market once rates fall one percentage point. Buyers waiting for rates to come down may wind up paying more in the end, she warned. Real estate economists say that mortgage rates aren't primed for a significant drop anytime soon. Mortgage rates are influenced by real interest rates in the economy, and the Fed has hinted it could keep rates higher for longer as it continues to monitor inflation.

Persons: Barbara Cocoran, —, Barbara Corcoran, Cocoran, Freddie Mac, Corcoran, meanwhile Organizations: Service, Fox Business Network, Corcoran Group

☆ Homebuyers' Biggest Mistake: Waiting for Mortgage Rates to Fall
▼ + stars: | 2024-03-27 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

Then, as the Federal Reserve began its battle against inflation in 2022, mortgage rates shot up, eventually hitting a 20-year high in October. Over the past decade, there's been a clear correlation between mortgage rates and inventory: When mortgage rates fall, the number of available homes for sale at a given moment shrinks. So, yes, waiting it out until mortgage rates decline sure seems appealing. The Federal Reserve has signaled that it plans to drop borrowing rates this year, which would likely push down mortgage rates. Advertisement"People are focusing on mortgage rates because every week they hear about mortgage rates changing," Doerner of the FHFA told me.

Persons: swiping, there's, Mike Simonsen, Freddie Mac, CoreLogic, —, homebuyers, Redfin, John Burns, Alex Thomas, There's, Will Doerner, Doerner, They're, Simonsen, it's, Jerome Powell Organizations: Federal Reserve, Buyers, Altos Research, Bank of America, John, John Burns Research, Consulting, Federal Housing Finance Agency, Federal, Fed

As the weather warms up and we head into the homebuying season, high mortgage rates should keep home prices from rising too fast. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.21%, a five-basis-point increase from the previous week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: Selma Hepp, you'll, Freddie Mac, it's Organizations: Zillow, Federal Reserve Locations: Chevron

☆ Apple announces its big annual conference, where it could reveal its AI strategy
▼ + stars: | 2024-03-26 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Apple on Tuesday announced that its annual developers conference, WWDC, will take place June 10 through June 14. The conference will be livestreamed on Apple's website, although the company is inviting some software makers to its campus on the first day to "celebrate in person," Apple said. At this year's conference, Apple could reveal its long-awaited artificial intelligence strategy and consumer features. In February, Cook said Apple was "investing significantly" in AI and teased an AI-related announcement "later this year" that many analysts believe will come at the Worldwide Developers Conference. At this year's conference, Apple also plans to reveal the first major software update to the Vision Pro, the virtual reality headset it launched earlier this year.

Persons: Apple, Cook, Tim Cook Organizations: Apple, Worldwide, YouTube, Vision

Mortgage interest rates have decreased in recent days after climbing last week. Mortgage interest rates aren't directly tied to the Fed rate. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which is likely to happen this year, mortgage rates should fall even further.

Persons: Freddie Mac Organizations: Reserve, Zillow, Federal Reserve, Fed Locations: Chevron

☆ There’s more bad news for potential homebuyers: Prices just hit another record
▼ + stars: | 2024-03-26 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

CNN —US home prices rose at the fastest clip in months to a fresh record high in January, according to data released Tuesday, highlighting how a housing shortage combined with high mortgage rates continues to limit affordability. The S&P CoreLogic Case-Shiller US National Home Price index rose 6% in January from a year before, accelerating from a 5.6% annual increase in December. “On a seasonal adjusted basis, home prices have continued to break through previous all-time highs set last year,” he noted. On a month-over-month basis, prices rose 0.4% on a seasonally adjusted basis. Minneapolis home prices have declined 2.4% during the three months ended in January, according to the report.

Persons: ”, Brian Luke, Dow, Freddie Mac Organizations: CNN, “, San Diego, Dow Jones, Minneapolis Locations: San Diego , Los Angeles, Washington

☆ 3 ways Apple’s monopoly lawsuit could change the iPhone experience for fans
▼ + stars: | 2024-03-26 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +7 min

Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.”But if successful, the lawsuit could ripple across Apple’s products and services. Anna Moneymaker/Getty ImagesChanges to the App StoreIf found liable, the company could be forced to change a number of things. One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before. More open servicesAnother likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+. But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless.

Persons: Biden, Apple, here’s, General Merrick Garland, Anna Moneymaker, Dipanjan Chatterjee, Forrester, ”, Chatterjee, it’s, David McQueen, ” McQueen, ” Chatterjee Organizations: CNN, Apple, Department of Justice, ”, Apple Watch, ABI Research Locations: Washington ,, innovating

☆ Apple announces its annual developers conference is set for June 10
▼ + stars: | 2024-03-26 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +1 min

CNN —Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements. The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14. Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts. A partnership with Google would catapult Apple into the growing AI arms race. In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.

Persons: CNN —, WWDC, they’ve, — Organizations: CNN, CNN — Apple, Apple, Google, Apple Watch

☆ I lost 150 pounds on the paleo diet. Now I do CrossFit competitions.
▼ + stars: | 2024-03-25 | by ( Jane Ridley | ) www.businessinsider.com time to read: +4 min

She did the paleo diet and took a part-time cleaning job at the gym to cover her fees. She lost 150 pounds and takes part in CrossFit competitions. I've lost 150 pounds, my dress size has decreased from a 20 to a two, and I participate in CrossFit tournaments. Card enjoyed vacation before she started exercise and the Paleo diet. I follow the paleo diet that's popular with high-profile people like LeBron James and Peter Thiel.

Persons: Barbara Card, —, I'd, I've, Card, Cameron, I'm, LeBron James, Peter Thiel Organizations: Service, Barbara, Business

☆ The Dogs Helping the Covenant Children Find Their Way Back
▼ + stars: | 2024-03-24 | by ( Emily Cochrane | Erin Schaff | ) www.nytimes.com time to read: 1 min

Two of April Manning’s children, Mac and Lilah, had just survived the mass shooting at the Covenant School in Nashville. So she did everything she could to keep the family dog, Owen, their sweet but ailing 15-year-old golden retriever, with them for as long as possible. She pushed back his final trip to the vet, keeping him comfortable as he slowly moved around the house. But a few weeks after the shooting, her children sat her down for an important presentation. Prepared with a script and a PowerPoint — “Why We Should Get (Another) Dog” — they rattled through research showing the mental health benefits of having one.

Persons: Owen Organizations: Covenant School Locations: Nashville

☆ How your iPhone could get better if Apple loses its big legal battle
▼ + stars: | 2024-03-23 | by ( Jordan Hart | ) www.businessinsider.com time to read: +9 min

More smartwatch optionsA Google Pixel Watch and the iPhone don't play as nicely together as an Apple Watch and the iPhone. GoogleIf the Apple Watch isn't your cup of tea, a court loss for the company could make using an alternative watch with the iPhone more seamless. Prosecutors said the Apple Watch depends too much on the iPhone while other smartwatches aren't nearly as compatible with the iOS system. iOS users might have been overcharged for music streaming subscriptions due to the fees placed on app developers by Apple, regulators said. "This lawsuit threatens who we are and the principles that set Apple products apart in fiercely competitive markets," Apple told BI in a statement.

Persons: —, Apple's, you'll, Apple, Jonathan Kanter, Kanter, Riley Testut, Jamie Court, you've, they've, Testut Organizations: Apple, DOJ, Service, US Department of Justice, CNBC, EU's, EU, Epic, Consumer, LA Times, Watch, Apple Watch, Google, Prosecutors, European Commission Locations: EU

☆ Here’s why high interest rates haven’t caused a US recession
▼ + stars: | 2024-03-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

America’s economy remains remarkably solid, despite the high interest rates. The Fed dramatically cut interest rates in the early days of the Covid-19 pandemic to help shore up an economy dealing with high unemployment, prompting mortgage rates to also drop in tandem. Those homeowners who locked in an affordable 3% mortgage rate, for instance, aren’t likely to trade it for anything higher. Fed officials reflected in their latest economic projections from December that they expect to cut interest rates three times this year, which would also lower mortgage rates. That all means that Americans have been well equipped to deal with the effects of high interest rates.

Persons: Jerome Powell, ” Powell, ” Dan North, Freddie Mac, ” Karen Manna, Federated Hermes, “, ”, Powell Organizations: DC CNN, Federal Reserve, Reserve, CBS, Allianz Trade, CNN, Fed, Employers, Consumer Finances, Federated Locations: Washington

☆ The French have fallen in love with American fast food. Here's why
▼ + stars: | 2024-03-19 | by ( Natalie Rice | ) www.cnbc.com time to read: +4 min

In France, a land of fine dining, Michelin stars and high standards for cuisine, there's a surprising favorite: American fast food. Expilly oversaw Popeyes' 2023 arrival in France while serving as COO of Popeyes France for French restaurant group Napaqaro. Burger King specifically has gone aggressively after the market "given the propensity for American quick service foods and concepts in France," Charles said. In 2024, McDonald's and Burger King hold more than 40% of the market, according to Euromonitor International, and now consider it their biggest one outside the U.S. French QSRs did take a hit in 2020, but the industry bounced back quickly, earning more profits in 2021 than before the pandemic, according to Euromonitor International.

Persons: Xavier Expilly, EXPM, Expilly, Popeyes, Burger, McDonald's, Andrew Charles, Cowen, Charles, Burger King, Joel Tissier, haven't, Tissier Organizations: Euromonitor, CNBC, Restaurant Brands, Canadian, Mac, Créteil, KFC, Euromonitor International, BK Locations: France, Europe, American, Burger, Paris, United States

☆ The Federal Reserve may not cut interest rates just yet, here's what that means for your money
▼ + stars: | 2024-03-18 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

"Interest rates took the elevator going up; they are going to take the stairs coming down," he said. Annual percentage rates will start to come down when the Fed cuts rates but even then, they will only ease off extremely high levels. "The reality of it is, a lot of borrowers are paying double-digit interest rates on those right now," McBride said. Federal student loansFederal student loan rates are also fixed, so most borrowers aren't immediately affected by the Fed's moves. But undergraduate students who take out new direct federal student loans are now paying 5.50% — up from 4.99% in the 2022-23 academic year and 3.73% in 2021-22.

Persons: Chris Wattie, Greg McBride, McBride, Sam Khater, Freddie Mac's, that's, Ivan Drury, Edmunds, Drury Organizations: Reuters, Treasury, Fed Locations: Edmunds

☆ Costco sells emergency meal kits that cost up to $6,999 — and it freaked people out. Naturally, we had to try them.
▼ + stars: | 2024-03-17 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +9 min

A TikTok about Costco's emergency food kits went viral, sparking some panicked speculations. But emergency meal kits are handy during emergencies and natural disasters, not just the apocalypse. AdvertisementWhen a TikTok showcasing some of the emergency food kits for sale at Costco went viral, people in the comments had questions — and some mild panic. Related storiesReadywise's emergency meal kits can last up to 25 years, while Mountain House says it has a 30-year taste guarantee. Mountain House Breakfast Skillet Kelsey VlamisThe breakfast option from Mountain House was also a winner.

Persons: —, Readywise, Norm Ramos, there's, Mount House, Kelsey Vlamis, Chili, Fettuccine Alfredo, Kelsey, Kraft, Skillet Kelsey, It's, Beef, Alfredo, Chicken Kelsey, I, Alfredo … Organizations: Service, Costco, Mount, House Locations: Readywise, Tabasco

☆ Liverpool’s quadruple dream comes to an end in FA Cup quarterfinal thriller against Manchester United
▼ + stars: | 2024-03-17 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +5 min

CNN —Liverpool’s chances of a historic quadruple in Jürgen Klopp’s final season at the club are over after falling to a 4-3 extra time defeat against bitter rival Manchester United in a frenetic FA Cup quarterfinal. Goals from Scott McTominay, Antony, Marcus Rashford and Amad Diallo gave United the win in a topsy-turvy FA Cup classic at Old Trafford in Manchester. “The first 35 minutes I think was the best minutes from our season,” United manager Erik ten Hag told the ITV broadcast after the game. In a game as hectic as this though, no lead was ever truly safe, as United proved in the second half of extra time. United fans were treated to a win in a chaotic cup tie.

Persons: CNN —, Scott McTominay, Antony, Marcus Rashford, Amad Diallo, Harvey Elliott, “, Erik ten Hag, ” United's Alejandro Garnacho, Paul Ellis, ” Klopp, Caoimhin Kelleher – deputizing, Alisson –, Dominik Szoboszlai, United ‘, Andre Onana, Alejandro Garnacho’s, Kelleher, Klopp’s, Wataru Endo, Mohamed Salah, Alexis Mac Allister, Darwin Núñez, Onana, Mac Allister, Stu Forster, Núñez, Salah, Michael Regan, Christian Eriksen, Rashford, slotting, Diallo Organizations: CNN, Manchester United, United, turvy, Old, Carabao, Chelsea, ”, ITV, Liverpool, Getty, raptures, Red Devils, English, Coventry City, Premier League, Manchester City, Newcastle United, Leicester City Locations: Klopp’s, Old Trafford, Manchester . Liverpool, AFP, Núñez, United, Chelsea

Mortgage rates started the week relatively low, but they're back up today. Mortgage rates are expected to go down in 2024, but they've been elevated so far this year in response to still-high inflation. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched down to 6.16% this week, according to Freddie Mac data.

Persons: they've, you'll, Freddie Mac, it's Organizations: Zillow, Federal Reserve Locations: Chevron

☆ Mortgage rates tumble for the second week in a row
▼ + stars: | 2024-03-14 | by ( Anna Bahney | ) edition.cnn.com time to read: +1 min

Washington, DC CNN —Mortgage rates dropped for the second week in a row, falling nearly a quarter of a percentage point over the past two weeks in the face of stronger-than-expected employment and inflation data. The 30-year fixed-rate mortgage averaged 6.74% in the week ending March 14, down from 6.88% the previous week, according to data from Freddie Mac released Thursday. But while rates are expected to move around in the next few months, homebuyers shouldn’t expect a major drop. “In this environment, there is a good possibility that rates will stay higher for a longer period of time.”Over the past four months, mortgage rates have come down from their highest levels of last year: 7.79%. Applications for mortgages were up 7% in the week ending March 8 from the week before, according to the Mortgage Bankers Association.

Persons: Freddie Mac, homebuyers, ”, Sam Khater, Freddie Mac’s, who’ve Organizations: DC CNN —, Mortgage, Association Locations: Washington

The latest forecasts expect mortgage rates to go down in 2024 and 2025, with experts predicting that 30-year rates could fall somewhere between 5.9% and 6.1% by the end of this year. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.22% last week, according to Freddie Mac data, which is a four-basis-point decrease from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which is likely to happen this year, mortgage rates should fall even further.

Persons: Freddie Mac Organizations: Federal, Zillow, Federal Reserve, Fed Locations: Chevron

First-time homebuyer no down payment programsIt's possible to get a mortgage with no down payment. VA mortgage borrowers enjoy the ability to put no money down and interest rates that are typically lower than conventional mortgage rates. Other low down payment mortgage optionsIf you don't qualify for VA or USDA no down payment home loans, there are other strategies you can use to reduce the down payment you're required to pay. Preparing for the application processTo ensure you qualify for a no down payment mortgage, work on getting your credit score in a good place. Forgoing a down payment may mean paying a higher interest rate and higher monthly payment on your mortgage.

Persons: you'll, Here's who's, Fannie Mae, Freddie Mac Organizations: US Department of Veterans Affairs, US Department of Agriculture, Federal Housing Administration, Federal Housing Finance Agency, USDA, Chevron Locations: homebuyers

☆ Food prices hold steady, but Americans have a beef with the cost of a burger
▼ + stars: | 2024-03-12 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

For burger proprietors — including smaller, mom-and-pop shops — and burger lovers alike, the price environment may not get any easier. Nearly eight decades later, the Owl Burger remains a draw, but it’s become noticeably more expensive since Covid. “Maybe 45 cents each year,” Argabright told CNN in an interview, adding that the Owl Burger sits at $7.95 now. “When you’re ordering pounds and pounds and pounds of it, it adds up pretty quick.”Beth Steele, founder of Beth's Burger Bar, in Edgewood, Florida. Where’s the beef price headedLike most aspects of inflation, there are several contributing factors behind higher burger prices.

Persons: that’s, ”, Tyler Schipper, Thomas, “ We’re, Wendy’s, Fries, Burger, Frank Chavez, it’s, Janice Argabright, ” Argabright, Beth Steele, Steele, “, hasn’t, we’re, Schipper, “ Don’t, ” Schipper Organizations: CNN, University of St, Trinity, Beth’s, Beth's, American Farm Bureau Federation Locations: Minnesota, San Antonio , New Mexico, Orlando, Beth’s Burger, Beth's Burger, Edgewood , Florida, Texas

The title acceptance pilot waives the need for a lender's title insurance policy on some refinance mortgages. The Federal Housing Finance Agency recently rolled out a new pilot program that would lower refinance closing costs for some borrowers. Called the "title acceptance pilot," this program would waive the requirement that conforming loans have a lender's title insurance policy on certain refinance mortgages. Borrowers are required to purchase a lender's title insurance policy, which can be a significant out-of-pocket cost. Pushback from the mortgage industryLeaders from the mortgage and title insurance industries overall weren't pleased with this announcement.

Persons: —, Biden, Fannie Mae, Freddie Mac, homebuyers, Christopher Tyson, Tyson, doesn't Organizations: Service, Federal Housing Finance Agency, Mortgage Bankers Association, Union, Consumer Financial, National Community Stabilization Trust, homebuyers

CNBC embedded with teams from HSI and California Highway Patrol to witness four organized retail crime operations for this investigation. CNBCAt the bottom of organized retail crime rings are boosters — the people who go into stores and take the items. A bin filled with sparkly silver boots that police suspect an alleged San Jose, California, crime ring stole from T.J. Maxx. In a statement, a TJX spokesperson said the company is "thankful" for CHP's efforts and is taking organized retail crime "very seriously." Court records filed in connection with the case provide a rare glimpse into the inner workings of an alleged organized retail crime ring.

Persons: Michelle Mack, Mack, Michelle Mack's, Louis Vuitton, Adam Parks, they've, Parks, HSI, It's, Joaquin, El, Guzman, Scott Robles, Robles, moisturizer, Allegra, Maxx, Gabrielle Fonrouge, Manny Nevarez, TJX, Michael Ball, Diego, Donna Washburn, Washburn, Mack —, we'll, Charlotte, Estee Lauder, masterminding, Rob Bonta, Kenneth Mack, Bonta, Kimora Lee Gooding texted Michelle Mack, Jan, Gooding, Andrew Barclay, Scott, let's, Kenneth Mack texted Michelle Mack, Michelle Mack texted Alina Franco, Sephora, Prada, Ulta's, Dave Kimbell, Kimbell Organizations: Police, CNBC, Patrol, Homeland Security Investigations, Department of Homeland, New, U.S . Custom House, Operation French, Walgreens, New Orleans Public, Federal, Gillette, CHP, TJX Companies, Bay Area, CNBC Police, Flea, Santa, Attorney, Capitol Flea, L'Oreal, Macy's, Body Locations: San Diego, Bonsall , California, California, Washington , Utah , Oregon, Colorado , Arizona , Illinois , Texas, Florida , Pennsylvania, Massachusetts, Ohio, U.S, Baton Rouge , Louisiana, HSI, New Orleans, Orleans, San Jose, Jose , California, Maxx, Bay, Bay Area, San Jose , California, Santa Clara, Washburn, St, Augustine , Florida, Charlotte Tilbury, Prada, LensCrafters

☆ Jim Cramer urges 'patience, patience, patience' on Apple stock, and two analysts also make the case
▼ + stars: | 2024-03-12 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

AAPL YTD mountain Apple (AAPL) year-to-date performance Jim Cramer on Tuesday acknowledged Apple's recent woes but encouraged investors to have "patience, patience, patience," with the stock. Apple's China sales — amounting to nearly 20% of overall revenue — continues to weigh on the company due to the country's tepid consumer spending, along with stiffening local smartphone competition . Investors are hoping to hear more about Apple's AI ambitions at the company's annual Worldwide Developers Conference in June. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Apple, It's, —, Jim Cramer, Apple's, iPhones, Jim, Tim Cook, we're, Jim Cramer's, Wang Gang Organizations: Big Tech, Bank of America, Nvidia, Meta, Microsoft, Apple, ISI, Service, Developers Conference, CNBC, Getty Locations: China, Shanghai

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