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Mortgage rates advance toward 8%

Published Fri, 07 Feb 2025 10:04:16 GMT

Mortgage rates continued to climb last week amid a stronger-than-expected economy and geopolitical uncertainty in the Middle East.The 30-year fixed-rate mortgage averaged 7.63% in the week ending October 19, up from 7.57% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 6.94%.“Mortgage rates continued to approach 8% this week, further impacting affordability,” said Sam Khater, Freddie Mac’s chief economist, in a statement.The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. The survey includes only borrowers who put 20% down and have excellent credit. A current buyer’s rate may be different.Not only are homebuyers feeling the impact of rising rates, but home builders are as well, Khater said.“Construction of new homes rebounded in September but as rates keep rising, home builders appear to be losing confidence,” he said. “As a result, we expect ...

Review: David Cornwell: The author who came in from the cold

Published Fri, 07 Feb 2025 10:04:16 GMT

By Lindsey Bahr | Associated PressErrol Morris’s conversation with the late David Cornwell in ” The Pigeon Tunnel ” is fascinating even without the filmmaking flourishes.Cornwell, better known by his pen name John le Carré, was the spy-turned-novelist whose tales of espionage and betrayal defined an era, gave literary heft to a genre and inspired numerous adaptations. And here, Morris challenges him to reflect on his unconventional childhood — his con-man father, his mother who left him at 5 never to return — on through his time in the secret services and beyond. You hear how he quite literally began life on the run, how he learned to be a “little spy” from quite a young age, how his father loomed so large in his imagination and how untrustworthy his own memory even turned out to be.It could have been just a transcript; It would have been a must-read.Cornwell died in 2020 at 89, and this film which will be streaming on Apple TV+ Friday, is said to be hi...

Philp: Is Newsom moving to the center as California becomes more liberal?

Published Fri, 07 Feb 2025 10:04:16 GMT

In navigating the gauntlet of bills from the California Legislature, Gov. Gavin Newsom largely rejected legislation that would have created more state spending in a budget deficit year. Instead, Newsom signed bills that will force new mandates on big private sector companies. He’s initiated a focus on new government requirements to increase certain minimum wages and expand climate change monitoring, as two examples.But after five years of budget surpluses, Newsom appears to be ending an expansion of government with budget deficits looming in coming years. These actions may give the impression that Newsom, perhaps driven by national political ambitions, is moving to the center politically. The governor did, after all, veto bills to distribute condoms in high schools and to legalize the recreational use of psychedelics. Don’t be fooled.It is the Legislature that is continuing to shift to the leftward, creating a political/optical illusion that it is Newsom who is evolving into somethi...

Berkshire Hills: Q3 Earnings Snapshot

Published Fri, 07 Feb 2025 10:04:16 GMT

BOSTON (AP) — BOSTON (AP) — Berkshire Hills Bancorp Inc. (BHLB) on Friday reported third-quarter net income of $19.5 million.The Boston-based company said it had net income of 45 cents per share. Earnings, adjusted for one-time gains and costs, were 50 cents per share.The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.The bank holding company posted revenue of $165.5 million in the period. Its adjusted revenue was $109.8 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $109.3 million.Berkshire Hills shares have fallen 33% since the beginning of the year. The stock has dropped 30% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BHLB at https://www.zacks.com/ap/BHLBSource

World Acceptance: Fiscal Q2 Earnings Snapshot

Published Fri, 07 Feb 2025 10:04:16 GMT

GREENVILLE, S.C. (AP) — GREENVILLE, S.C. (AP) — World Acceptance Corp. (WRLD) on Friday reported net income of $16.1 million in its fiscal second quarter.The Greenville, South Carolina-based company said it had net income of $2.71 per share.The subprime consumer lender posted revenue of $136.9 million in the period._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WRLD at https://www.zacks.com/ap/WRLDSource

Israel doesn’t plan to control ‘life in Gaza’ after destroying Hamas, defense minister says

Published Fri, 07 Feb 2025 10:04:16 GMT

Palestinian children displaced by the Israeli bombardment of the Gaza Strip walk in a UNDP-provided tent camp in Khan Younis on Thursday, Oct. 19, 2023. (AP Photo/Fatima Shbair)(AP/Fatima Shbair) Palestinian children displaced by the Israeli bombardment of the Gaza Strip walk in a UNDP-provided tent camp in Khan Younis on Thursday, Oct. 19, 2023. (AP Photo/Fatima Shbair)(AP/Fatima Shbair) KHAN YOUNIS, Gaza Strip (AP) — Israel’s defense minister said Friday that after the country destroys the Hamas militant group, the military does not plan to control “life in the Gaza Strip”Defense Minister Yoav Gallant’s comments to lawmakers were the first time an Israeli leader discussed its long-term plans for Gaza.Gallant sai...

Israel’s defense minister says that after crushing Hamas, the military does not plan to control “life in the Gaza Strip”

Published Fri, 07 Feb 2025 10:04:16 GMT

JERUSALEM (AP) — Israel’s defense minister says that after crushing Hamas, the military does not plan to control “life in the Gaza Strip.”Source

American Express: Q3 Earnings Snapshot

Published Fri, 07 Feb 2025 10:04:16 GMT

NEW YORK (AP) — NEW YORK (AP) — American Express Co. (AXP) on Friday reported third-quarter profit of $2.45 billion.The New York-based company said it had profit of $3.30 per share.The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.96 per share.The credit card issuer and global payments company posted revenue of $15.38 billion in the period, which fell short of Street forecasts. Thirteen analysts surveyed by Zacks expected $15.41 billion.American Express shares have climbed slightly more than 1% since the beginning of the year, while the S&P’s 500 index has climbed 11%. The stock has risen roughly 4% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXP at https://www.zacks.com/ap/AXPSource

Huntington Bancshares: Q3 Earnings Snapshot

Published Fri, 07 Feb 2025 10:04:16 GMT

COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — Huntington Bancshares Inc. (HBAN) on Friday reported third-quarter earnings of $547 million.The bank, based in Columbus, Ohio, said it had earnings of 35 cents per share. Earnings, adjusted for non-recurring costs, came to 36 cents per share.The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.The regional bank holding company posted revenue of $2.82 billion in the period. Its revenue net of interest expense was $1.89 billion, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $1.82 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HBAN at https://www.zacks.com/ap/HBANSource

How much do houses cost in Colorado? See the list by county

Published Fri, 07 Feb 2025 10:04:16 GMT

DENVER (KDVR) — Want to buy a house in colorful Colorado? Unless you're seeking peace on the plains, be prepared for a more expensive market than in other states.September housing market data shows the median sales price for a single-family home in all 64 counties, as reported by the Colorado Association of Realtors. For half of them, the numbers show sales prices higher than the recent national median of $416,000. These 2 Colorado cities are among the most expensive places to live Unsurprisingly, five of Colorado's destination mountain counties saw median home prices in the millions. In the southwest Colorado county of San Miguel, home to Telluride, the median price was more than $4.1 million. Pitkin County, home to Aspen, saw a median price of more than $7 million.Meanwhile, homebuyers on the Front Range paid a median of $829,000 in Boulder County, ranking it among the top 10 most expensive counties to buy a house. In Denver, that number was about $660,000 — but still lower than...