Columbus, OH

TheStreet

Mortgage lenders see more homes bought and sold when — and if — the Federal Reserve starts cutting rates.

Mortgage rates just had a huge drop

Business Insider

These are today's mortgage and refinance rates. Cooling inflation has helped mortgage rates fall, and they may drop further as the Fed cuts rates.

Mortgage Interest Rates Today, July 17, 2024 | Rates Are Down, and They Could Soon Go Even Lower

New York City, NY

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Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

Virginia State

History Facts lists eight names US parents no longer give their newborns, which you may no longer hear in Virginia. The girls' names are Doris, Gertrude, Mildred, and Judith. I know or have known women with all four names, but they are either baby boomers or boomer parents' ages and someone's grandma or great aunt. Consider the ages of females in Virginia you know with these names.

Eight names parents in Virginia may no longer be giving to their newborns

North Carolina State

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Raleigh, NC

Town Talks

A staple restaurant on Glenwood South, Plates Kitchen, is closing its doors after more than a decade in business. The restaurant plans to have its final day of operation on July 28.

Restaurant in North Carolina Now Makes An Unexpected Closure after a decade

Is it darkest before the dawn? If we look at the housing market right now, sales are down, new listings are down and prices are decelerating. But if we look at the data right now, things look the most bullish they’ve been all year. Good inflation data came in...

What happens to the housing market when mortgage rates finally come down?

HSBC cuts rates following similar moves by Barclays and NatWest.

Three big lenders cut mortgage rates

While a majority of U.S. homeowners with mortgages continue to be locked into rates below 5%, the share with rates above 5% is growing steadily. As of May, 24% of homeowners with mortgages had a current interest rate of 5% or higher, according to ICE Mortgage Technology’s July 2024 Mortgage Monitor Report.

ICE: 24 Percent of Homeowners with a Mortgage Now Have a Rate Above 5 Percent

Mississippi State

Farm equipment dealers across the country are seeing a decline in sales due to rising interest rates, high costs of restocking cattle and the effects of an election year. United States combine sales dropped 31% year over year in June, 2-wheel-drive tractor sales dropped 16.3% YoY and 4-wheel-drive tractor sales fell 1.3% YoY, according to an Association of Equipment Manufacturers report.

Interest rates, cattle prices shaping market, dealers say

Rates on 30-year new purchase mortgages fell Wednesday to their lowest level in two and a half weeks, dropping to a 6.84% average. It's a notable improvement after rates started July above 7%. Rates for most other mortgage types also moved down Wednesday. National Averages of Lenders' Best Mortgage Rates.

Mortgage Rates Drop to Lowest Level Since Mid-June

Markets Insider

The Federal Reserve risks prematurely cutting interest rates right as the US economy is poised to reaccelerate, Jim Bianco told CNBC. "The reason I suspect that we're going to have zero rate cuts is I don't think they're warranted. The economy is continuing to move along just fine," the Bianco Research president said on Friday, adding: "I suspect there'll be a second-half rebound."

The Fed shouldn't cut rates at all this year as the US is poised for a 2nd half rebound, macro strategist says

Pennsylvania State

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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

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

U.S. stocks rose sharply Tuesday, as the Dow Jones Industrial Average and S&P 500 both finished at record highs. The Dow, which closed at its first record high in two months on Monday, gained 1.9%, or 743 points, while the S&P 500 tacked on 0.6%. The Nasdaq Composite, ended 0.2% higher thanks to a late-day recovery, as tech stocks lagged the broader market's move higher.

Markets News, July 16, 2024: Dow Adds More Than 700 Points to Close at Record; S&P 500 Also Hits New High

A big indication that we may be heading toward a severe economic downturn has been identified by Cox Automotive, as the overall number of car repossessions has increased by 23 percent over last year. Not only that, but the current repossession rate has even eclipsed pre-pandemic levels, with 2024 sitting about 14 percent higher than 2019 repossession numbers. Consumers are falling behind on their car payments, a trend which likely won’t slow down with inflation, higher car prices, and sky-high interest rates kicking American workers in the pocket book. In May the average American new car buyer was paying $760 per month for an auto loan, with 17 percent of car owners committing to a monthly payment over $1,000.

Higher car repossession rates aren't a great sign for the economy

Until July 31, you can secure the top nationwide CD rate of 6.00%, guaranteed until May 2025. That's from Nuvision Credit Union, but it is limited to a $5,000 maximum deposit. The runner-up rate is TotalDirectBank's 5.51% on a 3-month or 6-month certificate, with nine additional CDs guaranteeing 5.40% or better for 3 to 12 months.

Top CD Rates Today, July 16, 2024 - Lock In 6% Until Next Year, or 5.10% to 2026

Chicago, IL

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?

Fox Business

Rising home supply and anticipated lower mortgage rates to come will "open the floodgates" for a real estate market "boom," says RE/MAX's chairman and co-founder.

Real estate tycoon explains when house prices will start to drop and 'open the floodgates'

Robert F. Kennedy, Jr. has an estimated net worth of $15 million, according to Forbes. His wealth consists of a combination of generational funds, investments, and real estate he owns along with his wife, "Curb Your Enthusiasm" actress Cheryl Hines. Before running for president as an independent candidate, RFK Jr....

What Is Robert F. Kennedy Jr.'s Net Worth?

Mortgage rates aren’t as good as they once were, but they’re as good once… as they ever were. The 30-year fixed-rate mortgage (FRM) averaged 6.89% Thursday, according to Freddie Mac’s Primary Mortgage Market Survey. That’s not as good as it was June 27, at 6.86%, and definitely not as good as it was once, in 2020.

Average Mortgage Rate Drops Six Basis Points From Last Week

NewsBreak

US Economy News Today: Fed Officials See Interest Rate Cuts Getting Closer

Welcome to Investopedia's economics live blog, where we explain what the day's news says about the state of the U.S. economy and how that's likely to...

US Economy News Today: Fed Officials See Interest Rate Cuts Getting Closer

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