Mortgage rates climbed above 7% this week for the first time in 2024‚ continuing their upward trajectory and putting further pressure on the housing market. Freddie Mac's latest Primary Mortgage Market Survey‚ released Thursday‚ showed that the average rate on the benchmark 30-year fixed mortgage jumped to 7.10% this week from 6.88% last week. The average rate on a 30-year loan was 6.39% a year ago. The average rate on the 15-year fixed mortgage rose to 6.39% from 6.16% last week....

The U.S. housing market is coming under renewed pressure‚ buffeted by mortgage rates that rose above 7% again and uncertainty over changes to the commission system for buying and selling a home. The average rate on the standard 30-year fixed mortgage jumped by nearly a quarter percentage point to 7.1%‚ according to a survey of lenders released Thursday by mortgage-finance giant Freddie Mac. That is the highest level since late 2023 and the largest weekly increase in nearly a year....

Prospective homebuyers are facing higher costs to finance a home with the average long-term U.S. mortgage rate moving above 7% this week to its highest level in nearly five months. The average rate on a 30-year mortgage rose to 7.1% from 6.88% last week‚ mortgage buyer Freddie Mac said Thursday. A year ago‚ the rate averaged 6.39%. When mortgage rates rise‚ they can add hundreds of dollars a month in costs for borrowers‚ limiting how much they can afford at a time when the U.S. housing...

A watchdog group is asking the Justice Department to investigate whether Donald Trump repeatedly lied in sworn statements to the federal government—including his own administration—about a $50 million loan that apparently never existed in the first place‚ and which could be evidence of tax evasion. The criminal complaint‚ filed on Thursday by watchdog Citizens for Responsibility and Ethics in Washington and first obtained by The Daily Beast‚ asks the FBI and the Justice Department’s Public...

In a tense conversation on the House floor on Thursday‚ a group of conservatives pressured Speaker Mike Johnson to back off potential plans to make it harder to remove House speakers. Why it matters: Johnson faces an imminent motion to vacate as he pushes through a foreign aid package that includes billions for Ukraine. The House changed its rules this Congress to allow a single member to challenge the speaker's job with a motion to vacate. One option being urged by Johnson allies is...

A meteorologist has warned of potential &;quot;weather wars&;quot; between countries if cloud seeding gets out of hand. The comments follow torrential rain in Dubai‚ the UAE‚ which caused extreme flooding. The downpour‚ which began on Monday‚ brought widespread disruption‚ closing schools‚ flooding homes and delaying travel. More than 142 millimeters of rain fell on the city in just 24 hours‚ equivalent to at least a year's worth of rain for the region. In recent days‚ there have been theories...

The Biden administration is pushing for a long-shot diplomatic deal in coming months that presses Israeli Prime Minister Benjamin Netanyahu to accept a new commitment to Palestinian statehood in exchange for diplomatic recognition by Riyadh‚ U.S. and Saudi officials said. As inducements to recognize Israel‚ the White House is offering Riyadh a more formal defense relationship with Washington‚ assistance in acquiring civil nuclear power and a renewed push for a Palestinian state—a package...

NYPD cops in riot gear swarmed Columbia University on Thursday afternoon and began arresting dozens of anti-Israel protesters after the school’s president made the bombshell decision to clear the campus. Minouche Shafik wrote in an email to students‚ faculty and staff that she made the call despite her hopes that the move would “never be necessary.” Shortly after 1 p.m.‚ hordes of cops in body armor and face shields descended on the Morningside Heights campus and...

White House aides have reportedly been referring to former President Donald Trump as “Hitler Pig” in their private discussions. Politico’s West Wing Playbook broke the news of the unsavory moniker on Wednesday following a viral post from Maggie Haberman of the New York Times that said Trump appeared to be sleeping in the courtroom for his criminal trial. “Trump appears to be sleeping. His head keeps dropping down‚ and his mouth goes slack‚” she said. According to Politico‚ the post...

The tastes of the guitar hero. The post Keith Richards’ favourite classic rock singer first appeared on Far Out Magazine.