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Rates just keep climbing, with 30-year mortgage rates hovering near 8%. 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. 30-year Fixed Mortgage RatesLast week, the average 30-year fixed mortgage rate was 7.63%, according to Freddie Mac. 15-year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.92% last week, a 3-point increase compared to the prior 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.

Persons: Lawrence Yun, you'll, Freddie Mac Organizations: National Association of Realtors, Federal, Zillow, Federal Reserve Locations: Chevron

☆ Why now is actually a good time to buy a house
▼ + stars: | 2023-10-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

And yet, there's an argument to be made for getting in now if you can find something, even amid 20-year high mortgage rates and stubbornly high prices. Mortgage rates at 8% have sidelined a good portion of the competition. High mortgage rates are the new normalThat message doesn't appear to be getting through to prospective homebuyers, who have made themselves scarce as mortgage rates have continued their steady rise in 2023. AdvertisementAdvertisementFairweather sees mortgage rates staying where they are until the Fed begins to cut rates in mid-2024. That could cause mortgage rates to ease around 100 basis-points next year, dropping as low as 7%.

Persons: —, Barbara Corcoran, don't, Lawrence Yun, Daryl Fairweather, Fairweather Organizations: Service, Corcoran, National Association of Realtors, Federal Reserve

Sales rose in the Northeast but fell elsewhere, although sales were down year to year throughout the country. Sales are now running at an annual rate of 3.96 million, down 15.4% from 4.68 million a year ago. On Tuesday, the Census Bureau reported that retail sales rose by 0.7%, more than twice what had been expected, as consumers flocked to eating and dining establishments and shopped more online. Among middle-income households, 25% plan to spend more, while 16% of low-income households will increase holiday spending. “Despite a lot of the negativity you see everywhere, consumers seem pretty resilient,” Rose says.

Persons: ”, Lawrence Yun, LEI, Justyna, Monica, TransUnion, Mark Rose, ” Rose Organizations: National Association of Realtors, Federal, Conference, The Conference Board, “, The, Board, Federal Reserve Bank, Atlanta’s, Census Bureau, Labor Department

☆ US existing home sales drop to 13-year low in September
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Sarah Silbiger/File Photo Acquire Licensing RightsWASHINGTON, Oct 19 (Reuters) - U.S. existing home sales dropped to a 13-year low in September as surging mortgage rates and tight supply combined to reduce affordability for many first-time buyers. Existing home sales fell 2.0% last month to a seasonally adjusted annual rate of 3.96 million units, the lowest level since October 2010, the National Association of Realtors said on Thursday. Economists polled by Reuters had forecast home sales slipping to a rate of 3.89 million units. "Higher mortgage rates are really hampering activity." At September's sales pace, it would take 3.4 months to exhaust the current inventory of existing homes, up from 3.2 months a year ago.

Persons: Sarah Silbiger, Lawrence Yun, Lucia Mutikani, Andrea Ricci Organizations: REUTERS, Rights, National Association of Realtors, Reuters, Mortgage, Association, Federal Reserve, Thomson Locations: Washington , U.S, Midwest, West, U.S

Once mortgage rates start to fall, home prices could rise even faster in response to increased competition over such limited inventory. 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. 30-year Fixed Mortgage RatesLast week, the average 30-year fixed mortgage rate was 7.19%, according to Freddie Mac. 15-year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.54% last week, a 3-point increase compared to the prior 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.

Persons: Lawrence Yun, you'll, Freddie Mac Organizations: National Association of Realtors . Sky, NAR, Zillow, Federal Reserve Locations: Chevron

☆ US home prices rose in July after 5 months of declines
▼ + stars: | 2023-08-22 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —US home buyers have a new challenge in addition to mortgage rates above 7%: Prices are rising again, reversing five months of year-over-year declines, according to a National Association of Realtors report released Tuesday. Prices rose in the Northeast, Midwest and South but were unchanged in the West in July, the NAR report found. Current homeowners are refusing to sell and are hunkering down with their ultra-low mortgage rates that are at least half the current rates. Sales of existing homes — which include single-family homes, townhomes, condominiums and co-ops — dropped below expectations and were down 2.2% from June to July. “Two factors are driving current sales activity — inventory availability and mortgage rates,” said NAR chief economist Lawrence Yun.

Persons: —, ”, Lawrence Yun, Freddie Mac, Melissa Cohn Organizations: DC CNN, National Association of Realtors, NAR, ”, William, Mortgage Locations: Washington, Northeast, Midwest, West

High mortgage rates this year have made it difficult for aspiring homebuyers to afford a house. See more mortgage rates on Zillow Real Estate on ZillowCurrent Refinance RatesMortgage 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 mortgage rates would impact your monthly payments. 30-year Fixed Mortgage RatesThe current average 30-year fixed mortgage rate is 6.96%, according to Freddie Mac. 15-year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 6.34%, up nine points from the prior week, according to Freddie Mac data.

Persons: homebuyers, Lawrence Yun, you'll, Freddie Mac, it's Organizations: National Association of Realtors, Federal, NAR, Zillow, Federal Reserve Locations: Chevron

☆ Opinion: Oppenheimer’s not your daddy
▼ + stars: | 2023-08-11 | by ( Opinion Aanchal Saraf | Rebecca H. Hogue | ) edition.cnn.com time to read: +11 min

Corbis/Getty ImagesScholar Teresia Teaiwa famously critiqued the bikini as instrumental to depoliticizing and concealing the effects of nuclear weapons in the Pacific. Britain and France would later begin their own nuclear weapons programs on Indigenous lands and waters in Australia and French Occupied Polynesia, among others. The US began detonating nuclear bombs at the Nevada Test Site in 1951, garnering nearby Las Vegas the nickname Atomic City. Atomic playboys have aestheticized nuclear weapons as sexy — but still safe — since their very existence. Nolan prolongs the time between the flash and the blast, allowing Oppenheimer’s words to hang in unnerving suspension.

Persons: Rebecca H, Hogue, Barbie ”, “ Oppenheimer, “ Barbie ”, Barbenheimer, Hogue Rebecca H, Baker, ” Rita Hayworth, Gilda, Hayworth, — Jacques Heim’s, Louis Réard, Corbis, Teresia Teaiwa, Lee A, Merlin, SpongeBob, Bert, Turtle, Walt, William Blandy, “, Christopher Nolan’s “ Oppenheimer, Cillian Murphy, Nolan, Oppie, Ernest Lawrence, Josh Hartnett, Jean Tatlock, Florence Pugh, Kitty Oppenheimer, Emily Blunt, Tatlock, Oppenheimer, J, Robert Oppenheimer, Christopher Nolan's, Melinda Sue Gordon, Nolan prolongs, “ Gilda, ”, Nolan bifurcates “ Oppenheimer ”, ” “ Oppenheimer, Barbie, Margot Robbie, ’, Ken, Ryan Gosling, —, Barbie’s, Mike ”, Edward Teller, “ It’s, Teller, “ Oppenheimer ” Organizations: Dartmouth College’s Society of Fellows, Mahindra Humanities Center, Harvard University, CNN, Warner Brothers Discovery, Universal, Trinity, Crossroads, Getty, Atomic Energy Commission, US, Las, Atomic, National Atomic Testing, Los, Communist Party, American, Twitter Locations: Pacific, Oceania, New Mexico, Hiroshima, Nagasaki, Marshall Islands, Kiribati, Northern Paiute, Western, Nevada, Amchitka , Alaska, Bikini Atoll, Britain, France, Australia, French, Las Vegas, Las, Playthings, Los Alamos, Japan, American, iconicity, Alamos

☆ US mortgage delinquency rates fall to all-time low
▼ + stars: | 2023-08-10 | by ( Safiyah Riddle | ) www.reuters.com time to read: +3 min

REUTERS/Lucas Jackson/File PhotoAug 10 (Reuters) - U.S. mortgage delinquency rates fell to a record low in the second quarter due to a strong job market and low interest rates prevailing on most home loans despite the big jump in mortgage rates over the last two years, a report on Thursday said. Delinquency rates fell to 3.37% at the end of the second quarter, according to the Mortgage Bankers Association’s National Delinquency Survey, their lowest since the MBA began collecting data in 1979 and down from 3.64% year-on-year. Economists are watching mortgage delinquency rates closely for signs of weakness amidst the Federal Reserve's aggressive 525 basis point interest rate increase since March 2022, which increased the cost of borrowing across the board. Despite the historically low delinquency rate, the MBA said not every borrower has been able to withstand the recent stress of hiked interest rates. “Home sales were down due to higher mortgage rates and limited inventory,” said NAR chief economist Lawrence Yun.

Persons: Lucas Jackson, ”, Lawrence Yun, Safiyah Riddle, Dan Burns, Marguerita Choy Organizations: REUTERS, Mortgage, National Delinquency Survey, Federal Housing Administration, National Association of Realtors, “, Thomson Locations: York County , South Carolina, U.S

☆ Wells Fargo adds Amazon to its focus list to beat the market
▼ + stars: | 2023-08-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Wells Fargo Investment Institute is getting more bullish on Amazon as the e-commerce retailer's Amazon Web Services and North American retail segments "near inflection points." Wells Fargo Investment Institute's focus list aims to beat the S & P 500 over a roughly one-year period on a total return basis. AMZN YTD mountain Shares have rallied more than 65% this year Amazon shares have rallied more than 65% this year. "More importantly, we see re-acceleration in growth, even a modest one, in core AWS functions over the next few years as a key catalyst for the stock," Pfeffer wrote. Wells Fargo is also gaining more confidence in Amazon's retail business in North America, as it builds up regional utilization and benefits from lower transportation rates and shipping costs.

Persons: Lawrence Pfeffer, Wells Fargo's, it's, Pfeffer, Wells Fargo, Michael Bloom Organizations: Investment Institute, Web Services, O'Reilly Automotive, Wells, Wells Fargo Investment, Amazon Locations: Wells, American, Wells Fargo, North America

But while it may be hard to believe, there is a light at the end of the tunnel when it comes to mortgage rates. See more mortgage rates on Zillow Real Estate on ZillowCurrent Refinance RatesMortgage 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 mortgage rates would impact your monthly payments. 30-year Fixed Mortgage RatesThe current average 30-year fixed mortgage rate is 6.9%, according to Freddie Mac. 15-year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 6.25%, up 14 points from the prior week, according to Freddie Mac data.

Persons: Lawrence Yun, you'll, Freddie Mac Organizations: National Association of Realtors, Federal, NAR, Zillow, Federal Reserve Locations: Chevron

☆ The work that Oppenheimer would've been known for if he hadn't gone on to make the atomic bomb
▼ + stars: | 2023-08-04 | by ( Aaron W. Harrison | The Conversation | ) www.businessinsider.com time to read: +6 min

While Oppenheimer will always be recognized as the father of the atomic bomb, his early contributions to quantum mechanics form the bedrock of modern quantum chemistry. The Born-Oppenheimer approximation offers a way to simplify the complex problem of describing molecules at the atomic level. This field, known as computational quantum chemistry, has grown exponentially with the widespread availability of faster, more powerful high-end computational resources. Nevertheless, the application of quantum chemistry made possible by the Born-Oppenheimer approximation will continue to expand and improve. In the future, a new era of quantum computers could make computational quantum chemistry even more robust by performing faster computations on increasingly large molecular systems.

Persons: Robert Oppenheimer, Oppenheimer, J, Robert Oppenheimer's, Werner Heisenberg, Ernest Lawrence, Max Born, ₂ Organizations: Service Locations: United States, Wall, Silicon

☆ Superconductor claims spark investor frenzy, but scientists are skeptical
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +7 min

The South Korean researchers last week said they found a superconductor that works at room temperature, which has long been considered a holy grail for scientists in the field. The South Korean researchers published two papers - one initial paper with three authors and a second, more detailed paper with six authors that included only two of the authors from the first paper. The gold standard for proof of discovery is other labs reliably replicating the South Korean researchers' findings. But another team, from Qufu Normal University, said they did not observe zero resistance, one of required characteristics of a superconductor. On Thursday, South Korean experts said they would set up a committee to verify the claims.

Persons: Read, Kelvin, Eric Toone, Bill Gates, Mike Norman, Norman, Sinéad Griffin, Lawrence, Griffin, apatite, Michael Fuhrer, Fuhrer, Argonne's Norman, Stephen Nellis, Joyce Lee, Brenda Goh, Krystal Hu, Kenneth Li, Deepa Babington Organizations: CEA, Nuclear Research, South, Reuters, South Korean, Huazhong University of Science, Technology, Qufu Normal University, Southeast University, Bill Gates ’, Energy Ventures, National Laboratory, Lawrence Berkeley National Laboratory, . Department of Energy, Monash University, Thomson Locations: ., China, South Korea, Nanjing, Melbourne, Australia, San Francisco, Seoul, Shanghai, New York

Mortgage rates spent the first half of July climbing, but they've since receded a bit and are now holding steady. 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. 30-year Fixed Mortgage RatesThe current average 30-year fixed mortgage rate is 6.78%, according to Freddie Mac. 15-year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 6.06%, down 24 points from the prior week, according to Freddie Mac data. But average 30-year fixed rates will likely remain somewhere in the 6% to 7% range throughout 2023.

Persons: —, Lawrence Yun, homebuyers, Yun, you'll, Freddie Mac Organizations: National Association of Realtors, NAR, Federal Reserve, Zillow Locations: Chevron

☆ Chien-Shiung Wu, a nuclear physicist who worked on the Manhattan Project, spent her career fighting for gender equality in science
▼ + stars: | 2023-07-26 | by ( Yoonji Han | ) www.businessinsider.com time to read: +7 min

Chien-Shiung Wu was a Chinese physicist who was instrumental to the Manhattan Project. Chien-Shiung Wu is a physicist who broke through both gender and racial barriers in 1940s America, wowing the science community with her significant contributions to the Manhattan Project. Like many other scientists involved in the project, Wu later distanced herself from the Manhattan Project due to its destructive outcome. Robert W. Kelley/Contributor/Getty ImagesWu's legacyAfter the Manhattan Project, Wu continued to advance the science community's understanding of nuclear physics. Wu was later awarded the first Wolf Prize, considered the second most prestigious award after the Nobel Prize, in 1978.

Persons: Wu, Wolf, Christopher Nolan's, Oppenheimer, Wu's, Madame Curie, Ernest Lawrence, J, Robert Oppenheimer, weren't, Lawrence, Wu —, Emilio Segrè, Marie Curie, Luke Yuan, East Coast . Wu, Brode, Wallace Brode, Enrico Fermi, Robert W, Kelley, —, Y.K, Lee, Bettmann Organizations: Manhattan, Physics, Service, University of Michigan, University of California, Princeton University, Science, Smithsonian Institution, Manhattan Project, Columbia University, Los Alamos, Columbia Locations: Chinese, Wall, Silicon, America, Jiangsu, China, Republic of China, United States, Michigan, Berkeley, Italian, East Coast ., Los, Manhattan

☆ Oppenheimer never won a Nobel Prize, but these 31 scientists with ties to the Manhattan Project did
▼ + stars: | 2023-07-24 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +26 min

Manhattan Project: After a harrowing escape from Nazi-occupied Denmark in 1943, Bohr began consulting on the Manhattan Project. Manhattan Project: Between 1943 and 1944, Muller was a civilian advisor for the Manhattan Project, consulting on experiments studying the effects of radiation. Maria Goeppert Mayer, Nobel Prize in Physics, 1963Maria Goeppert Mayer worked on the Manhattan Project and later won the Nobel Prize in physics. Manhattan Project: Working as an assistant to his father, Niels Bohr, Aage Bohr proved instrumental in interpreting for some members of the Manhattan Project. Manhattan Project: At 18, Glauber was still a student at Harvard when he became one of the youngest scientists to join the Manhattan Project.

Persons: Robert Oppenheimer, Alfred Nobel, Joseph Rotblat, Albert Einstein, Christopher Nolan's, Oppenheimer, Niels Bohr, Bohr, Nicholas Baker, Nick, James Franck, Boyer, Roger Viollet, Gustav Ludwig Hertz, Niels Bohr's, Franck, Arthur Compton, Imagno, Compton, Harold Urey, Harold, Urey, James Chadwick, Chadwick, Enrico Fermi, Fermi, Ernest Lawrence, Lawrence, Isidor Isaac Rabi, Nancy R, Schiff, Rabi, Hermann Muller, Muller, Edwin McMillan, Bettmann, Glenn Seaborg, McMillan, Elsie McMillan, Seaborg, Felix Bloch, Edward Purcell, Nobel, Hans Bethe, Bloch, Purcell, Emilio Segrè, Owen Chamberlain, Chamberlain, Segrè, Willard Libby, Leona Libby, Lowell, Libby, Linus Pauling, Leona Woods Marshall Libby, Eugene Wigner, Wigner, Leo Szilard's, Einstein, Franklin D, Roosevelt, Maria Goeppert Mayer, J, Hans Jensen, Goeppert Mayer, Teller, Richard Feynman, Tomonaga, Julian Schwinger, Fenynman, Hans Bethe's, Feynmwan, Feynman, Schwinger, Robert Mulliken, Mulliken, Szilard, Hans A, Bethe, Luis Alvarez, Alvarez, Enola Gay, Walter Alvarez, James Rainwater, Aage Bohr, Ben Mottelson, Rainwater, Wu, Aage Niels Bohr, Mottelson, mumbled, Val Fitch, James Cronin, Fitch, Jerome Karle, Isabelle, Larry Morris, Herbert Hauptman, Karle, Isabella Karle, Norman Ramsey, Ellie Welch, Ramsey, Norman Ramsey's Nobel, David Cheskin, Rotblat, Russell, Bertrand Russell, Enstinen, Frederick Reines, Philippe Caron, Sygma, Reines, Roy Glauber, Gail Oskin, Glauber Organizations: Manhattan Project, Service, Manhattan, US Army, AP, Getty, University of Chicago's Metallurgical Laboratory, Chicago Met, Los Angeles Examiner, USC, Columbia, Keystone, Gamma, Columbia University, University of Chicago, Trinity Test, University of California, Lawrence Berkeley National Laboratory, Lawrence Livermore National Laboratory, Hulton, Trinity, Deutsch, Los Alamos, University of Chicago's Metallurgical, Atomic Energy Commission, Harvard University, MIT Rad Lab, Denver, Chicago Met Lab, Materials Laboratory, Los, Radiation Laboratory, MIT, University of Chicago's, Princeton University, Naval Research Lab, Washington, US Naval Research Laboratory, Science, World Affairs, Einstein, Los Alamos National Laboratory, Harvard, Institute for Locations: Wall, Silicon, Polish, Denmark, Copenhagen, Nazi, London , Washington, Los Alamos, German, Germany, Japan, Manhattan, British, France, Washington, DC, Berkeley, Ridge , Tennessee, Los, New Mexico, Hanford, antiprotons, Hiroshima, Lowell Georgia, San Diego, Chicago, Washington ,

☆ What we hope to see from 9 Club stocks out with earnings in the week ahead
▼ + stars: | 2023-07-22 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

Looking to next week, earnings season will ramp up — and though we'll get some important economic data, expect the corporate releases and management commentary on the post-game calls to be firmly in the driver's seat. Here are two important things to know for the week ahead. Quarterly earnings : As important as economic releases are, it's earnings that will garner the bulk of investors' attention. For those looking to review first-quarter performance ahead of these releases, keep our first-quarter earnings report card handy. Here's the full rundown of all the important domestic data in the week ahead.

Persons: Dow, we'll, we've, Lawrence Yun, Jerome Powell's, Sartorius, Sartorius preannounced, It's, management's, We'll, Tesla, Ford's, Sherwin, Williams, Archer, Clark, Lam, Edwards Lifesciences, Hewlett, Northrop, Dr Pepper, Davidson, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Economic, National Association of Realtors, Nine, GE Healthcare, Microsoft, YouTube, Linde, LIN, Honeywell, Aerospace, Technologies, Ford, Procter & Gamble, Dynex, HBT, Hope Bancorp, NXP Semiconductors, Cadence Design Systems, Whirlpool, Logitech International, Liberty Global, Verizon Communications, General Motors, General Electric, GE, Spotify, Raytheon Technologies, Daniels, Midland, Albertsons Companies, ACI, Polaris Industries, Inc, Dow Chemical, DOW, Xerox, Texas Instruments, WM, Canadian National Railway Company, Chubb Corporation, Universal Health Services, Powell, Boeing, Hilton, Union Pacific, General Dynamics, Quest Diagnostics, Otis Worldwide, Grill, Lam Research, eBay, EBAY, Mattel, Hewlett Packard, L3Harris Technologies, Gross, Royal Caribbean Cruises, Southwest Airlines, Mastercard, Myers Squibb, Northrop Grumman, Hertz, Tractor Supply Company, HCA Healthcare, Boston, Hershey, Comcast, Harley, Norfolk Southern, Intel, Mobile, United States Steel Corp, KLA Corporation, Boston Beer Company, Nation Entertainment, Texas, Procter, Gamble, Exxon Mobil, Chevron, Charter Communications, AstraZeneca, Colgate, Palmolive, Newell Brands, Sanofi, Dwight, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: U.S, Hollywood, Cleveland, Corning, Kimberly, Bristol, Norfolk

☆ US pending home sales fall to five-month low in May
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

Economists polled by Reuters had forecast pending sales, which become sales after a month or two, falling 0.5%. Pending home sales tumbled 22.2% in May on a year-on-year basis. "Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing," said NAR Chief Economist Lawrence Yun. The housing market, which has taken the biggest hit from the Federal Reserve's fastest monetary policy tightening cycle since the 1980s, appears to have found a floor. While the tight supply is weighing on the market for previously owned homes, it is boosting construction and sales of new houses.

Persons: Lawrence Yun, Lucia Mutikani, Andrea Ricci Organizations: National Association of Realtors, Reuters, Federal, Housing, Thomson Locations: Northeast, West

☆ US jobless claims hold at 20-month high, existing home sales tick up in May
▼ + stars: | 2023-06-22 | by ( Dan Burns | ) www.reuters.com time to read: +6 min

The median expectation among economists polled by Reuters was for 260,000 new claims. The latest reading compared with a median economists' estimate of 1.782 million so-called continued claims. Existing home sales rose 0.2% to a seasonally adjusted annual rate of 4.3 million units last month, the National Association of Realtors said. Economists polled by Reuters had forecast home sales would fall to a rate of 4.25 million units. Home resales, which account for the largest share of U.S. housing sales, tumbled 20.4% on a year-on-year basis in May.

Persons: Thomas Simons, Simons, Jerome Powell, Lawrence Yun, Dan Burns, Chizu Organizations: Bureau of Labor Statistics, Reuters, Jefferies, Investors, National Association of Realtors, Economists, Mortgage, Association, Thomson Locations: Massachusetts, South, West, Northeast, Midwest

☆ Verstappen took chequered flag with dead bird on board
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

MONTREAL, June 19 (Reuters) - Red Bull's advertising slogan is 'gives you wings' but Max Verstappen had the whole bird on board when he won Sunday's Canadian Formula One Grand Prix. Red Bull's double world champion reported a bird strike early in the 70 lap race at Montreal's Circuit Gilles Villeneuve and team boss Christian Horner provided more details. "I think the biggest moment he had was hitting a bird that did half the race behind the front right brake duct," he told reporters. Verstappen told Sky Sports television: "It was still stuck on my car when I came in, it didn't look great. Red Bull have won every race this season, Verstappen victorious in six of them, and are on course to smash records.

Persons: Max Verstappen, Montreal's Circuit Gilles Villeneuve, Christian Horner, Verstappen, Red, Sergio Perez, Bull, Alan Baldwin, Christian Radnedge Organizations: Montreal's Circuit, Sky Sports, Formula, Miami, Prix, Thomson Locations: MONTREAL, St Lawrence, London

In spite of all the predictions that they'll fall soon, mortgage rates have remained stubbornly high so far this year. "The combination of job gains, limited inventory, and fluctuating mortgage rates over the last several months have created an environment of push-pull housing demand." 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. 30-Year Fixed Mortgage RatesThe current average 30-year fixed mortgage rate is 6.39%, according to Freddie Mac. 15-Year Fixed Mortgage RatesThe average 15-year fixed mortgage rate remained flat at 5.75% this week, according to Freddie Mac data.

☆ The housing slump is expanding quickly with home price declines the most widespread in 11 years
▼ + stars: | 2023-05-09 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

In the first quarter, 31% of US markets saw home price declines, the biggest share in 11 years. Meanwhile, 69% of housing markets saw home prices rise in the first quarter, down from 89% in the fourth quarter. That's the highest in 11 years and up from 11% of markets that saw price declines in the fourth quarter. But price declines could be short lived, he added, as inventory remains 40% below pre-COVID levels. Meanwhile, 69% of housing markets saw home prices rise in the first quarter, down from 89% in the fourth quarter.

☆ UK Conservatives suffering 'terrible' night with local election losses
▼ + stars: | 2023-05-05 | by ( Andrew Macaskill | ) www.reuters.com time to read: +4 min

REUTERS/Peter CziborraLONDON, May 5 (Reuters) - British Prime Minister Rishi Sunak's Conservatives were facing a bleak set of local election results with voters punishing his party over political scandals, sluggish economic growth and high inflation, early results showed on Friday. The Conservative Party suffered a net loss of 144 seats on local councils that were up for re-election, the early results showed. Johnny Mercer, a member of parliament for the area, said it had been a "terrible" night for the Conservatives. The Labour leader Keir Starmer visited Plymouth and Stoke-on-Trent during local election campaigning as the party threw resources into winning back control of the councils. The last time most of these local election seats were contested was in 2019 when the Conservatives lost more 1,300 seats, shortly before the then prime minister Theresa May was forced to resign, which had been expected to help limit the losses in these elections.

☆ These indicators tell us the housing market is hitting the brakes
▼ + stars: | 2023-04-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Before we rush into the weekend, let's check in with the slowing pace of the housing market, and what that means for the rest of the year's outlook. Another sign pointing to a softer housing market is lumber. But that's going to reverse in the decade ahead as Boomers age out of the housing market and post-Millennial generations shrink. What are you seeing in the housing market in your part of the country? In other news:A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 9, 2020.

☆ Lumber prices fall toward multi-year lows as pending home sales slump and industry searches for supply balance
▼ + stars: | 2023-04-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Lumber prices continued their downward trend on Thursday, falling 4% toward multi-year lows. The decline in lumber came amid an unexpected decline in March pending home sales, and as the industry seeks a balance in supply and demand. "The broad industry is still challenged with getting supply in check to meet the new demand curve," Sherwood Lumber told Insider. But according to Sherwood Lumber president Andy Goodman, the lumber industry is still searching for a balance in supply and demand. Since then, lumber prices have cratered 78%, in part driven by a surge in mortgage rates to above 6%.

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