Business Insider

These are today's mortgage and refinance rates. Mortgage rates are down as markets see an increased likelihood of three Fed rate cuts this year.

Mortgage Interest Rates Today, July 13, 2024 | Rates Dip as Multiple Fed Cuts Become More Likely

Joyce Chang, JPMorgan head of global research, joins 'Money Movers' to discuss what the market currently responds to, whether the early conjecture in the year was 'noise' regarding inflation, and why the elections are critical to the Federal Reserve's easing cycle.

JPMorgan's Joyce Chang: Expect Fed to ease in September

Washington, DC

NBC News

Federal Reserve Chair Jerome Powell said Monday that the central bank will not wait until inflation hits 2% to cut interest rates. Speaking at the Economic Club of Washington D.C., Powell referenced the idea that central bank policy works with “long and variable lags” to explain why the Fed wouldn’t wait for its target to be hit.

Jerome Powell indicates Fed won't wait until inflation is down to 2% before cutting rates

Chicago, IL

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Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Brooklyn, NY

Ozy Media and founder Carlos Watson were convicted of fraud by a Brooklyn federal jury on Tuesday, in a case accusing them of lying to investors about the now-defunct startup's finances and sham deals with Google and Oprah Winfrey. Watson, a former cable news anchor and investment banker, and Ozy were charged with securities fraud and wire fraud conspiracy.

Ozy Media founder Carlos Watson convicted in New York fraud trial

Rates on 30-year new purchase mortgages fell for a third consecutive day Friday, sinking to 6.70%. That's the lowest average since early spring, and is a notable improvement after rates started July above 7%. Rates for most other mortgage types also ended the week lower. National Averages of Lenders' Best...

Mortgage Rates Keep Dropping, To Lowest Level Since March

High interest rates and tight housing supply are hurting both homebuyers and sellers. The extent of the residential real estate crisis varies widely from state to state, and in some top states, climate risks are also rising. Because companies consider the residential real estate market when deciding where to locate,...

These are America's 10 best states for buying and selling a home in 2024, with a big caveat at No. 1

Kentucky State

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Northern Kentucky Tribune

Kentucky’s Community Actions Partnerships have announced the starts date for the Low-Income Home Energy Assistance Program (LIHEAP) Summer Subsidy, aimed at helping Kentucky households offset summer cooling costs.

LIHEAP Summer Subsidy program to help with summer cooling costs to begin enrollment July 16

The biggest news of the morning? Seeing the June CPI print with a negative sign. You can be pretty sure now that Fed rate cuts are coming. The overall June consumer price index dropped 0.1 points from May. Year-on-year, it almost printed with a 2-handle (it came in at a flat 3.0%). The core was only up one-tenth on the month, and 3.3% on the year. And yes, the yearly numbers are still high. But the recent trend has been incredibly soft. Core CPI for the past three months annualized is now running just 1.1%.

Kelly Evans: The cuts are coming

'Mad Money' host Jim Cramer talks about the state of the consumer and historic trends he is seeing in the economy.

Grocery aisle prices remind me of what we saw during the pandemic, says Jim Cramer

Alabama State

Birmingham, AL

When Jen Barnett and Brett Andrews started seriously thinking of leaving the U.S., they had a few parameters for their new home. The couple from Birmingham, Alabama, wanted to live in a place not too far from the beach, that had a strong middle class, where politics leaned progressive, and maybe most importantly, where people enjoyed a high quality of life for a lower cost of living.

American couple left the U.S. for Mexico and lives on $3,000 per month: What they say is cheaper

West Virginia State

President Joe Biden delivers his State of the Union address to members of Congress, the Senate and his cabinet, live from the floor of the House of Representatives.

West Virginia Gov. Jim Justice speaks at Republican National Convention

California State

Alameda Post

California regulators just stopped AT&T from pulling the plug. California’s Public Utilities Commission on June 20 rejected AT&T’s application to stop providing landlines and other services in areas where there is no other option.

Still Need Your Landline?

PricewaterhouseCoopers is considering slashing up to half its financial services auditing staff in China, two people with knowledge of the matter said, as a regulatory investigation and an exodus of clients darken business prospects. PwC's financial services auditing operation employs at least 2,000 people across mainland China with main hubs...

PwC weighs halving of China financial services audit staff, Reuters reports

Denver, CO

David Heitz

A dangerous drug that is being mixed into fentanyl is causing those who inject it to develop a rash of sores that resembles a case of flesh-eating bacteria. People experiencing homelessness around Denver can sometimes be seen with these bloody, weeping wounds. I recently mentioned this phenomenon to a fentanyl user who told me about the xylazine connection.

Denver homeless people suffer sores as xylazine enters fentanyl supply

The Independent

First Direct reduced the mortgage rates it is offering by up to 0.17 percentage points on Tuesday, following a slew of rate cuts by major lenders last week.The bank has cut rates across its range of two, three and five-year fixed repayment mortgages, for first-time buyers and home movers.The reductions include a cut on a two-year fixed-rate deal for people with a 15% deposit, which is now priced at 4.99%, down from 5.16%.Liam O’Hara, head of mortgages at First Direct said: “We’re pleased to be reducing our rates across our range of two, three and five-year fixed mortgages, across LTVs...

Bank cuts mortgage rates for first-time buyers and home movers as shake up begins

Pennsylvania State

Bucks County Beacon

With an assassination attempt on Donald Trump at a rally in Pennsylvania on July 13, 2024, the U.S. experienced another violent episode in its increasingly polarized politics. Former President Trump, who’s about to formally become the GOP nominee for president in the 2024 election, survived the attempted assassination when, initial reports said, a bullet grazed his ear . But one rally attendee was killed , more spectators were injured and the suspected gunman is also dead. The Conversation’s politics editor, Naomi Schalit, spoke with University of Massachusetts, Lowell, scholar Arie Perliger after the event. Perliger offered insight from his study of political violence and assassinations. Given the stark political polarization in the U.S., Perliger said, “it’s not a surprise that eventually people engage in violence.”

‘One Inch from a Potential Civil War’? Trump Shooting a Close Call for American Democracy

“Who sits there and thinks, with all the needs we have in America, of criminalizing the homeless?” wonders Pastor Robert Brown of Bristol’s Bible Evangelical Methodist Church after learning that the United States Supreme Court approved punishing those experiencing homelessness who have nowhere to sleep.

After SCOTUS OK’s Criminalization of Homelessness, Pennsylvania Democrats Plan Legislative Response to Protect Rights of the Unhoused

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The HD Post

CALIFORNIA – Starting July 1, landlords will only be allowed to collect one month’s rent for the security deposit on a rental property. Assembly Bill 12, signed into law last October, says regardless of whether the residential property is unfurnished or furnished, only one month’s rent can be charged in addition to any rent for the first month paid on or before initial occupancy.

Law limiting security deposits goes into effect July 1

It’s impossible to keep up with everything going on in financial markets and the economy these days. That’s where The 5, a new feature for Money & Markets Daily, comes in…. Let’s start your week off right by exploring the most significant trends and opportunities you need to...

Expect a “Surprise” Fed Turnaround for Summer ’24…

NewsBreak

Unemployment is now 'reasonable enough' for a Fed rate cut, says Korn Ferry's Alan Guarino

Alan Guarino, Korn Ferry vice chairman, joins 'Squawk...

Unemployment is now 'reasonable enough' for a Fed rate cut, says Korn Ferry's Alan Guarino

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