Last week, mortgage rates fell for the fourth consecutive week, with the average interest rate for 30-year fixed-rate mortgages dropping to 6.44%. Despite this decrease, the response from current homeowners and potential homebuyers was lackluster. Total mortgage application volume only rose by 0.5% compared to the previous week. Refinancing Activity While the demand for refinancing
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When comparing the economic proposals of former President Donald Trump and Vice President Kamala Harris, it is evident that there are significant differences in their approach. According to studies by the nonpartisan Penn Wharton Budget Model, Trump’s proposals would increase federal deficits by $5.8 trillion over the next decade, while Harris’ proposals would add $1.2
After the news broke that Amazon aggregators Branded and Heyday plan to merge, it was revealed that the combined companies will form a new entity called Essor. The CEO of Heyday, Sebastian Rymarz, announced this decision in a note to staffers, explaining that Essor translates to “take flight” in French. The goal of the new
The recent announcement of Kamala Harris’ campaign and its allies raising a staggering $40 million is undoubtedly a remarkable feat. The influx of donations following her speech at the Democratic National Convention reflects a significant level of enthusiasm and support for the Vice President. However, it is essential to critically evaluate the details behind these
Boeing’s Starliner capsule, which was originally intended to return from the International Space Station with NASA astronauts Butch Wilmore and Suni Williams, will now be coming back empty. This decision comes after the capsule faced significant issues during its crew flight test, particularly with its propulsion system. NASA, in an unexpected turn of events, has
The Chinese electric vehicle (EV) makers have been facing tariffs in the U.S., prompting them to explore other markets to sell their high-tech cars. One such market that has emerged as a hot spot for Chinese EVs is Mexico. Chinese automakers have been aggressively selling their vehicles in Mexico, with China leading as the top
Philadelphia Federal Reserve President Patrick Harker recently gave a strong endorsement for an interest rate cut in September. This announcement comes after minutes from the last Fed policy meeting indicated that a cut is imminent. Harker emphasized the need to start the process of moving rates down and suggested that monetary policy easing is almost