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What happened to mortgage rates this week? There’s room ‘to fall further’

Published Fri, 07 Feb 2025 16:40:04 GMT

Jeff Ostrowski | Bankrate.com (TNS)The average rate on 30-year fixed mortgages retreated to 7.41% this week, down from 7.55% the previous week, according to Bankrate’s weekly national survey of large lenders.The recent reprieve could signal a prolonged drop in mortgage rates, housing economists say. The average rate on 30-year home loans in October topped 8%, but that’s changing because of a number of factors, including a slowing job market and signs that the Federal Reserve’s ongoing war on inflation is working.“Part of it is the Federal Reserve is pausing on interest rate hikes,” says Lisa Sturtevant, chief economist at Bright MLS, a real estate listing service in the Mid-Atlantic region. “Of course, mortgage rates are affected by things other than what the Fed does. For example, mortgage applications are down, and lenders are competing for a shrinking pool of applicants.”Meanwhile, yields on 10-year Treasury bonds, an informal benchmark for 30-year mortgage rates, have dropped fr...

Source: Boston Police union, city reach tentative 5-year contract deal

Published Fri, 07 Feb 2025 16:40:04 GMT

The city has reached a deal with the largest union representing the Boston Police Department, the Herald has learned.The city and the Boston Police Patrolmen’s Association have reached a breakthrough 5-year tentative contract deal that is pending ratification by the union members, according to a source familiar with the matter.The union was not immediately available for comment or to provide further details. The mayor’s office would not immediately confirm whether a release with information was coming today.The basics of the deal include changes to arbitration rules, the detail system that has been under fire in recent months and “union retention time.”This is a developing story.

Aria Mazza, ‘dragged’ to NBA games for brother’s violin performances, is proving instrumental for Benet

Published Fri, 07 Feb 2025 16:40:04 GMT

Benet junior Aria Mazza has been playing basketball for about eight years.It all started because of her older brother’s violin.Giovanni Mazza, 18, is an elite violinist who has played during dozens of NBA games since he was discovered during a Chicago Bulls youth talent search in 2015.“I’ve got to go to all these games, and that’s kind of how I got into basketball,” Aria Mazza said. “Just being dragged to every NBA game, I started watching the games, and I started to love the game.”Mazza is beginning to make music of a different kind in her first season with the Redwings (4-2) after transferring.The 5-foot-7 guard started at Conant last season but is usually the first or second player off the bench for Benet.“During middle school, I wanted to come here, but COVID kind of changed the plans up,” Mazza said. “Now that I’m here, it’s a little more competitive in practices, but I think it’s really helped me, an...

New US rules, aimed at curbing China, could make it harder for EV buyers to claim a full tax credit

Published Fri, 07 Feb 2025 16:40:04 GMT

By MATTHEW DALY (Associated Press)WASHINGTON (AP) — Americans could have a harder time finding electric vehicles that qualify for a full $7,500 federal tax credit under new rules proposed Friday that are likely to hinder President Joe Biden’s goal that half of new passenger vehicles sold in the U.S. run on electricity by 2030.Plans outlined by the departments of Treasury and Energy would limit EV buyers from claiming the full tax credit if they purchase cars containing battery materials from China and other countries that are considered hostile to the United States. The new rules, required under Biden’s signature climate law approved last year, are likely to slow consumer acceptance of electric vehicles just as Biden is trying to ramp up sales to help meet his goal to cut planet-warming greenhouse gas emissions in half by 2030. EV sales have tripled since Biden took office, but the U.S. still depends on foreign sources, especially China, for many of critical minera...

Dead longhorn found on Oklahoma State fraternity lawn the day before championship game with Texas

Published Fri, 07 Feb 2025 16:40:04 GMT

Police say a dead longhorn cow was found on the lawn of an Oklahoma State University fraternity on Friday, the day before the school’s football team plays the University of Texas Longhorns in the Big 12 championship game.Police were notified just after 6:30 a.m. of the dead animal on the lawn of Farmhouse fraternity, according to Stillwater police Officer TJ Low.The carcass had an expletive carved into its side and the stomach was cut open, according to the campus newspaper, The O’Colly.“It’s a very cruel crime to be committed, especially right before the Big 12 Championship,” Low told The Oklahoman. “Nothing is worth doing that kind of crap.”A representative for the fraternity, which was founded in 1905 by agriculture students, did not immediately return a phone call for comment.Oklahoma State University said in a statement that it “is appalled at the disturbing display of animal cruelty … at an off-campus location near a fraternity house.”The university sai...

New York’s College of Saint Rose will close in May 2024 amid financial woes

Published Fri, 07 Feb 2025 16:40:04 GMT

NEW YORK (AP) — The College of Saint Rose, a century-old Roman Catholic College in Albany, New York, will close in May 2024 after years of financial struggles, college officials announced Friday.“It is with a heavy heart that the Board decided to close the college at the end of this academic year,” Jeffrey D. Stone, chair of the college’s board of trustees, which voted to close the school on Thursday, said in a statement. “The Board determined that the College does not have the financial resources to operate for the full 2024-2025 academic year and therefore cannot remain a standalone institution.”Stone added, “We are devastated that despite all our efforts we were unable to avoid closure. Our goal now is to ease the transition for our students, faculty, and staff.”The college will help students either graduate in May or continue their studies elsewhere, officials said, and the human resources department will assist faculty, administrators and staff in their job se...

More than 30 people are trapped under rubble after collapse at a mine in Zambia, minister says

Published Fri, 07 Feb 2025 16:40:04 GMT

LUSAKA, Zambia (AP) — More than 30 people are trapped under rubble at an open-pit mine in Zambia after part of a waste pile was thought to have collapsed on them, a government minister said on Friday.Home Affairs and Internal Security Minister Jack Mwiimbu said in Parliament that the collapse happened in the city of Chingola, in Zambia’s copperbelt, about 400 kilometers (248 miles) north of the capital, Lusaka.“May I just inform the nation that we have a tragedy that is brewing in Chingola, where a number of our people have been affected by a collapse of the open pit,” Mwiimbu said. “We have more than 30 people under the rubble and we are struggling to retrieve them.”He said rescue teams were at the site.Mines and Minerals Development Minister Paul Kabuswe was also at the scene and said no one had yet been found and it wasn’t clear exactly how many people were trapped under the rubble.Informal artisanal mining is common in Chingola, although the ministers didn̵...

Kangaroo spotted running along Oshawa roadside: lost pet group

Published Fri, 07 Feb 2025 16:40:04 GMT

A lost pet search group has posted a video that appears to show a kangaroo running along an Oshawa street on Friday morning.The group, Team Chelsea, says the video was recorded at around 7:45 a.m. this morning on Winchester Road and was later posted to its site by one of its followers. The kangaroo can be seen running westbound on Winchester from Harmony Road.“If you see the kangaroo, do not approach it,” the group’s Facebook post states, adding that the animal has not been spotted since.According to the University of Melbourne, kangaroos can be dangerous, with potentially deadly kicking power.“Kangaroos are wild animals,” an article on the unversity’s website says.“It’s important to remember that while they can make interesting pets, they have never been domesticated, so their behaviour is driven mostly by instinct.“While a kangaroo’s first response is usually to flee, it will attack if feels cornered…”There’s no wor...

Death toll from Alaska landslide hits 5 as authorities recover another body; 1 person still missing

Published Fri, 07 Feb 2025 16:40:04 GMT

JUNEAU, Alaska (AP) — Authorities have recovered the body of one of two people who had been missing following a deadly landslide last week in the southeast Alaska community of Wrangell.The body of Otto Florschutz, 65, was found late Thursday afternoon and recovered from the debris, Alaska State Troopers said in a statement Friday. One person, 12-year-old Derek Heller, remained missing following the late night Nov. 20 landslide that came down into the path of three homes, one of which was unoccupied.Five people have been confirmed killed in the landslide: Florschutz; Timothy and Beth Heller and two of their children, Kara, 11, and Mara, 16.Florschutz’s wife, Christina Florschutz, survived. In a recent interview with the Wrangell Sentinel and KSTK radio, she described the force of the landslide, saying it tossed her “like a piece of weightless popcorn” before she lost consciousness. She described regaining consciousness and being trapped between the roof of her house and debris ...

Ottawa didn’t verify disputed Métis communities covered by federal bill: official

Published Fri, 07 Feb 2025 16:40:04 GMT

OTTAWA — A high-ranking federal official says Ottawa has not verified the legitimacy of disputed Métis communities in Ontario that have been at the centre of heated debate over a government bill.Martin Reiher, a senior assistant deputy minister in the Crown-Indigenous Relations Department, said Bill C-53 only recognizes provincial Métis organizations that govern and the government isn’t required to dig into the legitimacy of specific communities. He made the comments at a parliamentary committee, where Indigenous leaders have been hotly debating legislation that would recognize Métis self-governance in Ontario, Alberta and Saskatchewan.The Chiefs of Ontario and other First Nations groups have argued that six new communities within the Métis Nation of Ontario, which the provincial government recognized in 2017, have no historical basis to exist. Nipissing First Nation Chief Scott McLeod says the official’s comments are yet another example of the federal government not doi...