Lenders have been lowering their rates ahead of a hoped-for interest rate cut in August.

Mortgage rate hopes as one lender offers below 4%

The states with the lowest 30-year new purchase mortgage rates on Thursday were Alaska, New York, Florida, Texas, Louisiana, California, Pennsylvania, and North Carolina. Meanwhile, the states with Thursday's most expensive rates were Washington, D.C., West Virginia, Vermont, South Dakota, North Dakota, New Hampshire, and Virginia. Mortgage rates vary by...

Today's Mortgage Rates by State – Aug. 9, 2024

Business Insider

These are today's mortgage and refinance rates. Rates are trending down, following weak labor market data for July and a rough stretch for the stock market.

Mortgage Interest Rates Today, August 7, 2024 | 30-Year Rates Drop Below 6%

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?

Chris Pyle spends the entirety of his workdays wearing a white tank top and boxer shorts, sitting in a recliner. It's an unusual setting for a mechanic, but a profitable one. Pyle started answering strangers' questions about their gas and diesel engines on JustAnswer as a side hustle in October 2006.

45-year-old mechanic quit his full-time job for his side hustle—now he makes $14,200 a month: My paycheck is 'very consistent’

Money Week

The building society’s cheapest deal is now priced at 3.99%. Whether you’re buying or remortgaging, we look at whether rates could drop further in the coming months

Nationwide cuts mortgage rates as they dip below 4% for first time since February

Reuters

NEW YORK (Reuters) - The average rate on the popular U.S. 30-year mortgage plunged to its lowest level since May 2023 this week, following days of market turbulence resulting from last week's softer-than-expected employment report.

U.S. 30-year fixed-rate mortgage plunges to lowest since May 2023, Freddie Mac says

Warren, MI

Stellantis will indefinitely lay off up to 2,450 U.S. plant workers in Warren, Michigan, later this year as it discontinues production of an older version of its Ram 1500 pickup. The company has not announced a vehicle to replace the truck. The layoffs are expected to start as soon as...

Stellantis laying off 2,450 plant workers due to discontinuation of Ram 'Classic' pickup truck

Yesterday saw one of the largest single day mortgage rate increases in years, although there were more than a few caveats. We discussed those in greater detail in yesterday's update. Rather than attempt to condense and already-condensed explanation of esoteric market plumbing, here's the link in case you missed it: https://www.mortgagenewsdaily.com/markets/mortgage-rates-08062024.

Mortgage Rates Move Higher Again, But at a Much Gentler Pace

Chicago, IL

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

writer

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?

Colorado State

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

contributor

David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

Sen. Elizabeth Warren sent a letter to Tesla Chairperson Robyn Denholm on Thursday concerning CEO Elon Musk and possible breaches of his fiduciary duty to the company. Warren wants to know whether the board has ever bothered to investigate Musk's use of Tesla resources to benefit his other companies, including SpaceX and xAI.

Tesla's board faces questions from Elizabeth Warren about Musk's corporate 'entanglements'

Mortgage interest rates continued to drop this week with growing expectations that interest rate cuts are coming. The 30-year fixed-rate mortgage averaged 6.77%, down significantly from last week's average of 6.89, according to Freddie Mac. That's the lowest level since mid-March. The 15-year fixed-rate mortgage also fell, averaging 6.05% this week.

Mortgage rates tumble; time for buyers to ‘get serious’

Gal Krubiner, co-founder and CEO at Pagaya, joins 'The Exchange' to discuss the fintech company that specializes in AI lending and to provide an inside look into the country's spending habits.

An inside look at how Pagaya uses AI to approve borrowers

New Jersey State

Morristown Minute

A new initiative aims to provide housing for vulnerable Medicaid members, enhancing community wellness and support. MORRIS COUNTY, N.J. - In a significant move to tackle housing instability among Medicaid recipients, New Jersey's Human Services Commissioner Sarah Adelman, along with Community Affairs Commissioner Jacquelyn A. Suárez, today announced the availability of $95 million in funding for developers. This initiative, part of the Healthy Homes program, is designed to create affordable housing opportunities for NJ FamilyCare members who are either homeless, at risk of homelessness, or currently living in institutional settings.

$95 Million for Healthy Homes: Housing for Medicaid Members

Denver, CO

More dangerous substances are entering the Denver drug supply, Harm Reduction Action Center warned in a newsletter this week. “The Iron Law of Prohibition posits that as law enforcement becomes more intense, the potency of prohibited substances increases,” HRAC Executive Director Lisa Raville wrote in the newsletter. That is exactly what is happening, she said.

Dangerous substances entering Denver drug supply

Ohio State

The Lantern

On Tuesday, licensed Ohio dispensaries began legally selling non-medical marijuana to consumers; however, the drug’s possession, growth and/or usage are still prohibited on Ohio State’s campus. Credit: Jefferee Woo/Tampa Bay Times/TNS [Original caption: Four citizen-led petitions with proposals to update Dallas’ charter hit the 20,000 valid signature threshold to make it on the Nov. 5 election ballot, including one that would ban police officers from arresting or citing people carrying less than four ounces of marijuana.] As of Tuesday, students 21 and older can now legally purchase marijuana in Ohio.

Dispensary sales of recreational marijuana began Tuesday; possession and usage still prohibited on Ohio State’s campus

CNBC brings you fast, accurate, and actionable business news and market updates.

News Update – Late Morning

Florida State

Uncovering Florida

Homeowners' Associations (HOAs): many Floridians belong to them and only now are they getting more protections from them. Effective July 1, 2024, House Bill 1203 is requiring HOAs to follow a more strict set of guidelines in favor of homeowners.

New Florida Law Cracks Down On Homeowners’ Associations

Staying hydrated during the summer season has always been important but it's even more vital as temperatures rise to record highs. To keep your electrolytes at a normal level, there are seven elements that should be included in the foods and drinks you consume, in moderation, according to Cleveland Clinic:

The 'best way to hydrate'—and 6 other foods, drinks to reach for as temperatures rise

NewsBreak

Weekly mortgage refinance demand soars 16% as rates sink to lowest level in over a year

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.55% from 6.82%. Applications to refinance a home...

Weekly mortgage refinance demand soars 16% as rates sink to lowest level in over a year

Comments / 0