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High mortgage rates had a huge impact on the housing market last year, but we'll likely see conditions improve in 2024. Mortgage rates rose to a more than two-decade high last year, and homebuying demand all but disappeared as a result. "Mortgage rates are meaningfully lower compared to just two months ago, and more inventory is expected to appear on the market in upcoming months." 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 5.76% last week, according to Freddie Mac data.
Persons: Lawrence Yun, you'll, Freddie Mac, it's, they've Organizations: Mortgage, National Association of Realtors, NAR, Zillow, Federal Reserve Locations: Chevron
If you were priced out of the housing market in 2023, you might have better luck finding an affordable home in 2024. Mortgage rates are expected to decrease by nearly 1% by year's end — from 6.6% down to as little as 5.75% — according to recent housing forecasts. That's good news for buyers, as the decrease would reduce their monthly mortgage costs by roughly $200 for a median-priced home. On Thursday, 30-year fixed mortgage rates slid to 6.6% after peaking at 7.79% in October 2023, per Freddie Mac data. This lines up with other recent projections:
Persons: Freddie Mac, Fannie Mae's Organizations: Strategic Research
But 2024 may be better for some of these buyers as mortgage rates go down and borrowers are able to carve out a bit of affordability. Even small decreases in rates can add up to hundreds of dollars in savings on the average monthly mortgage payment. 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 5.76%, an 11-basis-point decrease from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.
Persons: they've, Fannie Mae, you'll, Freddie Mac, it's Organizations: Zillow, Federal Reserve Locations: Chevron
After dropping substantially toward the end of 2023, mortgage rates are expected to go down further in 2024. 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. 30-Year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 6.60% last week, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 5.76% last week, according to Freddie Mac data, which is an 11-basis-point drop from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit.
Persons: they've, Freddie Mac Organizations: Fed, Zillow, Federal Reserve Locations: Chevron
Fannie Mae now sees mortgage rates dipping below 6% in 2024, anticipating a stronger housing market rebound. "The outlook for both short term rates and mortgage rates is now decidedly lower than what we had previously forecast." As mortgage rates relax, it's also easing the "lock in" effect that had held the housing market in a chokehold. Fannie Mae revised its 2024 forecast for total home sales to an annualized rate of 4.96 million, up from its prior estimate of 4.79 million. And Fannie Mae now expects its home price index to increase 3.2% this year, after previously estimating a 2.8% uptick.
Persons: Fannie Mae, , Fannie Mae's, Freddie Mac, it's Organizations: Service, Federal Reserve
‘America Is Under Attack’: Inside the Anti-D.E.I. “In support of ridding schools of C.R.T., the Right argues that we want nonpolitical education,” Mr. Klingenstein wrote in August 2021. In a 2023 exchange, Dr. Yenor and two associates discussed how to defend Amy Wax, a conservative law professor at the University of Pennsylvania. Dr. Yenor and his allies bristled at the conventions of academic life as overly solicitous toward female and nonwhite students. Samuel Ginn, Claremont donor“The president then told him, ‘Things will change,’” a Claremont fund-raiser wrote to Dr. Yenor and other officials there.
Persons: “ wokeism ”, Chancellor Sharp, Sam Ginn, DeSantis, !, Searle, Scott Yenor's, Alabama Jeff Sessions, peter thiel, thiel, Dan Patrick, Patrick, Texas Long, Claudine Gay, Harvard’s, Trump, Ron DeSantis, Peter Thiel, Heather Mac Donald, , Scott Yenor, , ” Scott Yenor, Claremont, Critics, George Floyd, Donald J, Trump’s, Thomas D, Thomas Klingentstein, ” Mr, Klingenstein, Yenor, Christopher Rufo, fromScott Yenor, Floyd, Mao Zedong’s, Ryan P, Williams, Jack Miller, Ryan Williams, Miller, zealots, Mao Zedong's, ” Claremont, Taube, tothe, Arthur N, Chris Ross, Dockweiler, Elizabeth Ailes, Roger Ailes, Daniel C, Searles, fromChris Ross Ryan, I'd, Dorian Abbot, Mr, Ross, Dr, Amy Wax, Wax, Wax’s, David Azerrad, . Azerrad, fromScott, Azerrad, , , Mac Donald, Mac Donald1 —, fromDavid Azerrad Heather, that's, Thiel —, Thiel’s, bristled, Riffing, Bill Burr, hadn’t, Burr, George W, Bush, ” Tennessee’s, Susan Kaestner, Jeff Sessions, Samuel Ginn, Christopher B, Roberts, Roberts “, Ginn, ” Bowdoin, Thomas Klingenstein, Janet Mills, Mills, , Sarah Huckabee Sanders, Kevin Stitt, he’d, fromThomas, Glenn, sputtered, retool, didn’t, Jim Banks, Banks’s, Banks, Gay, Elise Stefanik Organizations: MIT, Trust, Texas, Claremont, Republicans, Senate, The New York Times, Republican, Claremont Institute, Gov, D.E.I, New, Manhattan Institute, Maine Policy Institute, , Texas Public Policy Foundation, Equity, Jack Miller Family, Jack Miller Family Foundation America, Capitol, Freedom Trust, Rupe Foundation, Scaife, Fox News, Massachusetts Institute of Technology, University of Pennsylvania, Hillsdale College, Boise State University, Boise, University of Wisconsin, Eau Claire, Trump, Boise State, University of Tennessee, Arkansas, Alabama, Auburn University, University of Alabama, Auburn, Bowdoin College in, NAS, Bowdoin, Democratic, Mr, Maine Public Radio, American, Association, Maine Department of Education, Indiana Republican, Education, Harvard, New York Republican Locations: Texas, Tennessee, North Carolina, Maine, Montana , Utah , Oklahoma , Texas, South Carolina , Florida, Louisiana, America, defund, Alabama, Tallahassee, Union, California, Florida, Maine , Tennessee, Idaho, New York, Florida , Louisiana, North Carolina , Oklahoma , Tennessee, Wisconsin, Darling, Dallas, Utah, C.R.T, United States, Hillsdale, Eau, India, Boise State, Boise, Manhattan, Canadian, Dixie, Maine —, Bowdoin College in Maine, Colonial America, , Maine’s, la, Portland, Northern Maine, Arkansas, Yenor, Indiana, Israel
Read previewThe housing market is about to exit its slowdown and take off in a new growth period, according to National Association of Home Builders CEO Jim Tobin. AdvertisementThat's partly because mortgage rates have continued their steady decline in recent months. At the same time, prospective buyers are likely warming up to the new norm of 6% mortgage rates, and could be readying themselves to jump back into the housing market, he said. "I think that the world is getting ready to realize that we're no longer going back to those 3%-4% mortgage rates. Improving affordability conditions could cause home sales to jump 5% while home prices decline 1% in 2024, according to Redfin.
Persons: , Jim Tobin, Tobin, Freddie Mac Organizations: Service, National Association of Home Builders, Business, Yahoo Finance, Mortgage, Association . Housing
ATLANTA (AP) — With Bill Belichick set for a second interview, the Atlanta Falcons have talked with Detroit Lions defensive coordinator Aaron Glenn about their vacant head coaching job. The Falcons announced Friday they had completed a virtual interview with Glenn, who has led the Lions' defense for the past three seasons. Glenn became the ninth candidate to interview with the Falcons, but all eyes were on Belichick amid reports that he was the team's top choice and had flown into Atlanta on one of owner Arthur Blank's private jets for a second interview. The Falcons confirmed they were meeting further with Belichick, but said no additional details would be provided until the follow-up interview was completed. For good measure, Belichick was a part of two more championship teams while working on the New York Giants' staff under Bill Parcells.
Persons: Bill Belichick, Aaron Glenn, Glenn, Belichick, Arthur Blank's, hasn’t, Atlanta hasn’t, Arthur Smith, , Mac Jones, Bailey Zappe, Desmond Ridder, Taylor Heinicke, Smith, Blank, Rich McKay, Terry Fontenot, Don Shula’s, Tom Brady, Bill Parcells, Brady, That’s, Jim Harbaugh, Mike Macdonald, Brian Callahan, Steve Wilks, Ejiro Evero, Anthony Weaver, Brian Johnson, ___ Organizations: ATLANTA, Atlanta Falcons, Detroit Lions, Falcons, Lions, New England Patriots, Atlanta, New, Patriots, New York Giants, Tampa Bay Buccaneers, NFC, Baltimore Ravens, Cincinnati Bengals, San Francisco 49ers, Carolina Panthers, Ravens, Philadelphia Eagles Locations: Atlanta, New Orleans, New England, Michigan
Annie Nightingale, who became the first female disc jockey on BBC Radio 1 in 1970 and remained a popular personality there until her final show, late last year, died on Jan. 11 at her home in London. Her family announced the death in a statement but did not cite a cause. “This is the woman who changed the face and sound of British TV and radio broadcasting forever,” Annie Mac, a longtime BBC Radio D.J., wrote on Instagram after Ms. Nightingale’s death. Ms. Nightingale became well known in music circles in the 1960s as a columnist in British newspapers. And she was a familiar face to stars like the Beatles, whom she interviewed at the Brighton Hippodrome in 1964.
Persons: Annie Nightingale, Annie Mac, Ms, Nightingale, Derek Taylor, Mark Lewisohn Organizations: BBC, BBC Radio D.J, Brighton Hippodrome, Apple, Beatles Locations: London, British
I sat down with Dolly Parton and realized she's an expert when it comes to all things Southern food. Dolly Parton loves cooking traditional Southern food like corn bread. Bridget Bennett/AFP via Getty ImagesOn top of being a legendary musician and a fashion icon, Parton is also a great chef. "Miley and I both love Southern food like mashed potatoes, coleslaw, and a big ol' hunk of corn bread — making corn-bread muffins or a big pan of it with the squares," Parton told me. So when I stumbled on her corn-bread recipe, I knew I had to give it a go.
Persons: Dolly Parton, Bridget Bennett, Parton, Carl Dean, Miley Cyrus, Miley Organizations: Getty, Bell Locations: Southern
Read previewThe housing market is coming off its weakest year of home sales since 1995, according to data out Friday from the National Association of Realtors. For the full 12 months, total existing home sales hit 4.09 million units, and sales were lower across all regions in the US year-over-year. Related stories"The latest month's sales look to be the bottom before inevitably turning higher in the new year," NAR economist Lawrence Yun said. AdvertisementTotal existing home sales, year-over-year. "Despite sluggish home sales, 85 million homeowning households enjoyed further gains in housing wealth," Yun said.
Persons: , Lawrence Yun, Freddie Mac, Yun Organizations: Service, National Association of Realtors, Business, NAR Locations: homeownership
The National Association of Realtors said Friday that existing U.S. home sales totaled 4.09 million last year, an 18.7% decline from 2022. Despite easing mortgage rates, existing home sales fell 1% in December from the previous month to a seasonally adjusted annual rate of 3.78 million, the slowest sales pace since August 2010, the NAR said. Last month's sales pace is short of the roughly 3.83 million that economists were expecting, according to FactSet. “The latest month’s sales look to be the bottom before inevitably turning higher in the new year,” said Lawrence Yun, the NAR's chief economist. The national median home sales price rose 4.4% in December from a year earlier to $382,600, the NAR said.
Persons: Freddie Mac, , Lawrence Yun Organizations: ANGELES, The National Association of Realtors, NAR, Federal Reserve, Treasury Locations: U.S
Preorders for Apple 's $3,499 Vision Pro headset began Thursday morning ahead of its U.S. release on Feb. 2. The Vision Pro is Apple's first new product category since it released the Apple Watch in 2015. Wall Street doesn't expect Apple to sell it in the same quantities as it does its other products, like the iPhone, Apple Watch and Mac, at least not at first. UBS' David Vogt estimates Apple could generate about $1.4 billion in revenue from the Vision Pro in 2024, assuming Apple ships about 400,000 handsets. The entry-level Vision Pro comes with 256GB of storage and the same M2 chip that Apple includes in some of its Macs.
Persons: Morgan Stanley, Erik Woodring, David Vogt, Apple's Organizations: Apple, Apple Watch, UBS, Vision, Worldwide Developers
Bank of America thinks Apple can recover from its slow 2024 start and notch big gains going forward. He also raised his price target to $225 per share, which implies 23% upside from Wednesday's close. Mohan noted he expects Apple to implement AI features in its iOS 18 operating system later this year. He also said the Vision Pro headset "could surpass iPad revs over time as spatial computing takes hold offering differentiated use cases driving services upside." AAPL YTD mountain Apple in 2024 Apple shares have been under pressure in early 2024, losing more than 5% after rallying 48% last year.
Persons: Apple, Wamsi Mohan, Mohan, downgrades, Piper Sandler, BofA Organizations: of America, Apple, Barclays Locations: U.S, China
Mortgage rates drop to lowest level since May
  + stars: | 2024-01-18 | by ( Anna Bahney | ) edition.cnn.com   time to read: +2 min
Washington, DC CNN —After moving higher the past two weeks, mortgage rates fell this week, dropping to the their lowest level since May 2023. Mortgage rates remain more than a full percentage point lower than their highest levels of last year: 7.79%. However, he added, as more buyers come in off the sidelines attracted by lower rates, more pressure will be placed on already depleted inventory for sale. “In some markets, however, prices will rise much faster this year.”Still, lower rates can improve affordability by reducing the costs of financing a home. “On a loan to purchase a $400,000 home, a one percentage point decrease in mortgage rates can lead to a $250 drop in the typical monthly payment,” Sturtevant said.
Persons: Freddie Mac, who’ve, , Sam Khater, Freddie Mac’s, Lisa Sturtevant, Sturtevant, ” Sturtevant Organizations: DC CNN, , homebuyers Locations: Washington, DC
'Mad Maxx' Crosby is one of the brightest defensive stars in the NFL. Maxx Crosby celebrates a play during a 2023 game with the Las Vegas Raiders. The Raiders — then located in Oakland — picked Crosby in the fourth-round, and he earned a starting role in the pros right away. The three-time Pro Bowler has ranked top-15 in tackles for loss every year since he went pro, including leading the league in that category each of the past two seasons. He was also top-10 in sacks in 2022 and 2023 and has forced two or more fumbles in three of his five seasons in the NFL.
Persons: Maxx, Crosby, Maxx Crosby, Jamie Sabau, Oakland —, Bowler Organizations: NFL, Las Vegas Raiders, The Detroit News, Eastern Michigan University, Eagles, American Conference, Raiders Locations: Colleyville , Texas, Oakland
Rony Sebok got a job at Apple straight out of Harvard in 1983 working on the Mac team. She worked with a small team of software engineers under the direction of Steve Jobs. Interviewing for the Mac team didn't follow the traditional approachAt the time, this was a top-secret project. Steve Jobs once came into my cubicle and asked, "Don't you own a pair of blue jeans?" AdvertisementMacintosh software team photographed in January 1984 for a Rolling Stone article.
Persons: Rony Sebok, Steve Jobs, Sebok, Jobs, , Steve, I'd, Bill Gates, alums, Lisa teams, Windham, Steve didn't, Susan Kerr, John Sculley, Lisa, OpenAI Organizations: Apple, Harvard, Mac, Service, Macintosh, Computer Science, Microsoft, IBM, BMW, Windham Hill, Polaroid, Mercury, Getty, HP, Havard Business School, Google Locations: East Coast, West, Cupertino, Hawaii, Apple
The average rate on a 30-year mortgage dropped to 6.6% from 6.66% last week, mortgage buyer Freddie Mac said Thursday. The decline, which follows two weeks of increases, brings the average rate down to the lowest level it's been in since late May, when it was 6.57%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also eased this week, dropping the average rate to 5.76% from 5.87% last week. The decline in mortgage rates has followed a pullback in the 10-year Treasury yield, which lenders use as a guide to pricing loans. Still, at this point, economists generally predict the average rate on a 30-year mortgage going no lower than 6%.
Persons: Freddie Mac, Sam Khater, Freddie Mac’s Organizations: ANGELES, Treasury, Federal Reserve Locations: U.S
Washington, DC CNN —Homebuilder confidence surged in January as mortgage rates continued to trend lower, according to the National Association of Home Builders/Wells Fargo Housing Market Index released Wednesday. Builder confidence in the market for newly built single-family homes surpassed market expectations, climbing seven points to 44 on the index. The optimism comes as mortgage rates begin to fall and data points to an improving economy heading into 2024. “Single-family starts are expected to grow in 2024, adding much needed inventory to the market,” Huey said. The monthly builder index looks at current sales, buyer traffic and the outlook for sales of new-construction homes over the next six months.
Persons: Alicia Huey, ” Huey, Freddie Mac Organizations: DC CNN, National Association of Home Builders Locations: Washington, Wells Fargo
The Apple Vision Pro is a mixed-reality device that combines virtual and augmented reality, but Apple would rather you call it a "spatial reality" headset. AdvertisementApple Vision Pro: How to orderPrepare for the (slightly convoluted) process of ordering an Apple Vision Pro. AppleThe purchasing process for the Apple Vision Pro is more involved than the company's other products. AdvertisementApple Vision Pro: FeaturesThe Vision Pro projects hovering displays to your eyes, and can be used to run apps as you would on a Mac computer with multiple monitors. The Apple Vision Pro can also play videos on a hovering display that feels like a huge TV.
Organizations: Apple, Apple Vision
The housing market could be breaking free from the "rate lock" phenomenon that froze activity in 2023. That's because owners appear less deterred by high mortgage rates when considering whether to sell their homes, Zillow said. 21% of owners are considering selling their homes in the next three years, a Zillow survey shows. Currently, mortgage rates look to be less of a determining factor when considering a sale." Prices and mortgage rates are expected to continue easing slightly this year, Redfin economists predicted.
Persons: Zillow, , That's, Sylar Olsen, Freddie Mac Organizations: Service
Apple is offering rare iPhone discounts in China
  + stars: | 2024-01-15 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +2 min
New York CNN —Apple is offering temporary discounts on its iPhones and other products in China, in an extremely rare move for Apple that comes as competition within Asia’s smartphone market grows more intense. Although third-party sellers at times discount Apple products, Apple itself very rarely offers deals or sales, part of its effort to maintain a premium brand image – something that has been particularly important as Apple seeks to attract high-end buyers in China. The new discounts on the iPhone in China are raising fresh questions about how demand for Apple products is faring recently in the world’s second-largest economy. China has long been a key market for the iPhone maker, with roughly one-fifth of Apple’s overall sales last year coming from China. Last week, Apple lost its status as the stock market’s most valuable company, taking a back seat to Microsoft.
Persons: Yong Xiong Organizations: New, New York CNN, Apple, Mac, Huawei, Wall Street Journal, Research, Jefferies Research, Reuters, Microsoft Locations: New York, China
Last year, it seemed like rates would never stop climbing, with 30-year mortgage rates reaching a more than two-decade high in October 2023. The latest housing market predictions for 2024 see home prices rising this year as lower mortgage rates drive an increase in homebuying demand. High mortgage rates have kept a lot of would-be buyers out of the market over the past couple of years. 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. Once the Fed cuts rates, mortgage rates should fall even further.
Persons: you'll, Freddie Mac, they've, it's Organizations: Zillow, Federal Reserve Locations: Chevron
Dot Sharp worked at a McDonald's restaurant in Pennsylvania for 45 years. Dot Sharp started working at the McDonald's restaurant in Gibsonia, Pennsylvania, on September 7, 1978, and served her final customer – her granddaughter – on January 12, 2024. "I'm really sad about that because it's not so much the food, it's the people," Sharp told ABC-affiliate WTAE. During her tenure at the company, she witnessed the introduction of Happy Meals, McNuggets, and McFlurries. An employee makes notes at the counter at a McDonald's restaurant in Southfield, Michigan, July 1978.
Persons: Dot Sharp, Sharp, , , it's, McDonald's, Kerry Ford, Meghan Sweeney, Barbara Alper Organizations: Service, ABC, Tri County Management Locations: Pennsylvania, Gibsonia , Pennsylvania, Southfield , Michigan, Michigan
Apple is offering a discounts across a range of its products in China, including the latest iPhones, its website shows, as it faces rising competition and growing fears of a lack of demand for its flagship smartphone. Between Jan. 18 and Jan. 21, Apple is offering 500 Chinese yuan ($70) off its iPhone 15 range, including the most expensive iPhone 15 Pro Max. There are also discounts available on certain Mac models and the iPad. The offers come ahead of the Lunar New Year in mid-February.
Persons: Max Organizations: Apple Locations: China
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