The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. Inflation concerns remainThe mortgage rate for a 30-year, fixed-rate loan continued to climb as the 10-year Treasury yield has surged. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. “Mortgage rates are likely to move in the 6% to 7% range over the next few weeks, which continues to pose a significant challenge to affordability,” she said. “This decline may be due to a combination of multiple factors such as high housing prices, high mortgage rates, and the recent wave of tech layoffs on the West Coast,” said Xu.
San Bernardino County declared a local emergency on Monday as it seeks state and federal assistance following snowstorms over the weekend. Updated at 6:20 p.m. on 2/25/23#Caltrans8 Crews continue to make steady progress in #SBCO mountain areas. The emergency declaration seeks state and federal assistance to clear snow from mountain highways and neighborhood streets and support any other necessary work and services. The San Bernardino County Fire Department is utilizing specialized snow vehicles to access patients in medical need. County Public Works has been in coordination with multiple agencies including CalFire, County Fire, the County Office of Emergency Services, Caltrans, and Southern California Edison.23 days ago KESQ
The PIF owns 93% of LIV Golf, according to court documents. The PGA Tour, meanwhile, filed a motion on the magistrate’s order arguing depositions of the PIF and al-Rumayyan should not take place in Saudi Arabia. In the amended counterclaim with the Saudis listed as defendants, the PGA Tour refers to Greg Norman as the “nominal CEO” of the LIV Golf circuit, while al-Rumayyan calls all the shots. LIV Golf attorneys claim the tour wants to delay the trial — tentatively set for January 2024 — to keep LIV golfers off the PGA Tour. Nine LIV players initially sued the PGA Tour after they were banned from competing in its events.26 days ago KESQ
Under tight security, an anonymous New York federal court jury deliberated for three days before reaching a verdict in the drug trafficking case against ex-Public Security Secretary Genaro García Luna. García Luna, who denied the allegations, headed Mexico’s federal police and was later the country’s top public safety official from 2006 to 2012. García Luna, 54, was convicted on charges that include engaging in a continuing criminal enterprise. Current Mexican President Andrés Manuel López Obrador has railed throughout the trial against ex-President Felipe Calderón’s administration for, at a minimum, putting García Luna in charge of Mexico’s security. López Obrador has, however, pointedly suggested that Washington investigate its own law enforcement and intelligence officials who worked with García Luna during Calderón’s administration.29 days ago KESQ
Standing alongside Ukrainian President Volodymyr Zelensky, Biden used his very presence in the Ukrainian capital to taunt Putin for failing in his ambitions to invade and control the country. Biden has declared Putin a “war criminal” and a “pure thug,” accusing Russia of genocide and, in his castle speech, making an implicit call for regime change. Yet this week’s carefully planned choreography is striking nonetheless in its overt pitting of Biden against his counterpart in the Kremlin. From the Warsaw castle, Biden intends to recommit to supporting Ukraine, even as the costs mount and public support appears to wane. Visiting the region this week, Biden hopes to again provide a rallying cry for Ukraine, demonstrating to Putin and Russia that Western resolve isn’t weakening.1 month ago KESQ
In his return to elite competition for the first time in seven months, Woods caused quite a buzz in the opening round for all the wrong reasons. Walking off the tee, Woods discreetly put something in Thomas’ hand, which Thomas tossed to the ground when he realized what it was — a tampon, to remind Thomas that Woods hit it farther. Woods apologized after his bogey-bogey finish for a 74 in the second round, which left him over the projected cut line. “It was supposed to be all fun and games and obviously it hasn’t turned out that way,” Woods said. Woods came within inches of an ace on the par-3 14th, his fifth hole of the round, but he missed a 5-foot birdie chance two holes later.1 month ago KESQ
The government said Wednesday that retail sales jumped 3% in January, after having sunk the previous two months. The latest measure of consumer inflation showed that it slowed slightly on a year-over-year basis in January but rose sharply from December to January. Some of last month’s retail sales gain probably reflected unusually warm weather, which might have encouraged more people to buy cars, go shopping and eat out. The retail sales report isn’t adjusted for inflation, so some of that increase reflects higher prices. The eight interest rate hikes the Fed has carried out in the past year have raised the costs of mortgages and auto loans as well as credit card interest rates.1 month ago KESQ
A train derailment in Ohio and subsequent burning of some of the hazardous chemicals has people asking: How worried should they be? In the days since, residents’ concerns and questions have only abounded — amplified, in part, by misinformation spreading online. The derailment also highlighted questions about railroad safety, though federal data show accidents involving hazardous materials at this scale are very rare. A plume of contaminants that includes butyl acrylate formed in the Ohio River in the first days after the derailment and on Tuesday was flowing slowly, nearing Huntington, West Virginia, Ohio Environmental Protection Agency officials said. As with any developing situation, misinformation and hyperbole have spread online about the derailment in recent days.1 month ago KESQ