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- Mortgage rates hit highest level in nearly a year
Mortgage rates rose again this week and reached the highest level in nearly a year, mortgage buyer Freddie Mac said on Thursday.Freddie Mac's latest Primary Mortgage Market Survey showed the average interest rate on the benchmark 30-year fixed mortgage rose to 6.58% this week, up from 6.55% last week.This week's reading is the highest in about 11 months, as the 30-year fixed mortgage rate was last at 6.58% on Aug. 21, 2025. At this time a year ago, the rate was 6.74%.HOUSING AFFORDABILITY TO IMPROVE AS HOME PRICE GROWTH COOLS, REALTOR.COM FORECASTS"The 30-year fixed-rate mortgage averaged 6.58% this week," said Freddie Mac chief economist Sam Khater."As market conditions continue to evolve, borrowers should remember that shopping around for a mortgage rate can make a meaningful difference, potentially saving them thousands over the loan's lifetime," Khater added.The average rate on a 15-year fixed mortgage also moved higher to 5.96%, up from 5.93% last week. A year ago, the 15-year fixed mortgage had an average rate of 5.87%.STARTER HOME AFFORDABILITY IS CRAWLING BACK. THESE REGIONS ARE BEST FOR FIRST-TIME BUYERSMortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed's interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield rose slightly to 4.699% as of Thursday afternoon."While mortgage rates remain elevated, homebuyers may be better served focusing on the full cost of homeownership rather than trying to guess where rates will be a few months from now," said Jeff DerGurahian, chief investment officer and head economist at LoanDepot."The tug-of-war between inflation and the renewed conflict between the U.S. and Iran is reflected in today's rates, as higher oil prices raise concerns that elevated energy costs could filter into future inflation readings," DerGurahian added.RECORD DECLINE IN HOME ASKING PRICES OFFERS BUYERS AN AFFORDABILITY BOOSTThe latest mortgage data comes as conditions in the housing market have improved somewhat for buyers, many of whom have been on the sidelines as tight inventory has supported higher home prices and mortgage rates have held relatively steady.Realtor.com recently released a midyear update to its 2026 housing market forecast that estimates home price growth will slow to 1.2% this year, a rate that's slower than the original forecast for the year and is below the current pace of inflation. That means home prices would be effectively declining in real, inflation-adjusted terms.GET FOX BUSINESS… [TheTopNews] Read More.1 hour ago - US announces tariffs on dozens of countries over forced labour concerns
The tariffs target around 60 trading partners over claims they failed to properly stop forced labour. [TheTopNews] Read More.1 hour ago - LARRY KUDLOW: GOP needs a swag-worthy message on draining swamp, slashing middle...There’s no question that the Congressional Democrats and their socialist/communist DSA allies want to block every single item that President Trump is trying to get through Congress. It’s Trump derangement syndrome. They’re opposed to military spending for peace through strength, and opposed to supplemental spending on the Iran war.They’re completely blind to the fact that their Joe Biden-Barack Obama big government socialism has sprung millions of fraudulent and corrupt and criminal leaks in these bloated Medicaid, hospice, Obamacare, SNAP food stamps, and other programs. So much so that RFK Jr. cut off $1 billion in California and Minnesota. Yet that’s just the tip of the iceberg.And if they ever retake Congress, the Democrats will double up on their government takeover of the economy. Bet on it. They’ll raise taxes on wealth and income across the board, so that all of America looks like high-tax blue states such as California or New York. They’re opposed to data centers and the AI revolution, thereby boosting Communist China in the AI race, and robbing working-class jobs like welders, electricians, carpenters, plumbers, and other trades people. Working folks. They’d rob those jobs. Democrats are gonna try to shut the government down on September 30. And if they ever retake Congress, they’ll jump to impeach Mr. Trump again. And they’re opposed to the voter ID SAVE America Act because all along they’re hoping that 15 million illegals who crossed the border under President Biden will figure out how to get drivers licenses in order to vote.We already saw 6,600 noncitizens registered to vote in New Jersey. The governor said it was a software glitch. Sure it was. Blame the motor vehicle agency. Sure, that’s all there was, right? So all that said, what might happen under Democrat-socialist-communist rule? The regrettable fact remains that the Republicans are not showing any swag or rizz, shorthand for swagger or charisma, when it comes to communicating a clear message and showing folks why it’s important to keep the GOP Congress, and what they are going do if re-elected.Senator John Thune, the majority leader, said today the Senate lacks votes for the $95 billion House budget resolution. To quote him, "as I’ve said before you got to get to 50, and I can’t count to 50 right now on a budget resolution."Meanwhile, Karoline Leavitt said the president’s patience with Mr. Thune and Republicans is running low. In remarks to the press,… [TheTopNews] Read More.1 hour ago
- Department of War taps Oracle for software deal worth nearly $7BThe Department of War announced Thursday that it awarded Oracle a software contract worth nearly $7 billion aimed at cutting costs and modernizing technology across the military.The agreement carries a base value of $3.31 billion over its first five years and could reach $6.99 billion if the government exercises an additional five-year option, according to Oracle.The department said the contract is projected to save taxpayers at least $441 million by consolidating fragmented Oracle software purchases and licenses under a single department-wide framework.Negotiated by the U.S. Navy, the deal marks the department’s "first-ever" direct contract with Oracle covering its on-premises software use.ANDURIL, ARCHER AVIATION UNVEIL HYBRID-ELECTRIC VTOL FOR DEFENSE AND COMMERCIAL USE"By fundamentally improving how we procure on-premises Oracle capabilities, we are driving at least $441 million in taxpayer savings while rapidly and effectively serving our warfighters," Department of War Chief Information Officer Kirsten Davies said in a statement. "This nearly $7 billion agreement with Oracle strengthens our digital ecosystem, supporting our warfighters with secure, scalable technology to dominate current and future missions." The agreement will support the Department of War, the Coast Guard and the Intelligence Community.The indefinite-delivery, indefinite-quantity contract will allow Department of War organizations to "purchase Oracle commercial offerings, including on-premises software and support, Software-as-a-Service (SaaS) applications, and professional services through task and delivery orders tailored to specific mission and operational requirements," according to Oracle.TRUMP SAYS US REBUILDING MILITARY AS IRAN'S IRGC LOSES 90% OF WEAPONS CAPABILITYPricing, deliverables and performance criteria will be "defined at the order level," Oracle said."For the Department of War, the challenge is not just finding the right technology, it’s doing so quickly, compliantly, and at scale, without getting bogged down by complex procurement processes," Kim Lynch, executive vice president of government, defense and intelligence at Oracle, said in a statement. Oracle has supplied technology to the department since the 1990s and said military organizations will begin transitioning to the new contract framework this summer."For the Department of the Navy, this agreement supports faster delivery of secure, scalable software from the shore enterprise to the tactical edge for our Navy and Marine Corps teams," said Barry Tanner, who is performing the duties of the Navy’s chief information officer.TRUMP TURNS NATO SPENDING FIGHT INTO WIN FOR US DEFENSE COMPANIESGET FOX BUSINESS ON THE GO BY CLICKING HEREThe Oracle agreement comes as the Department of War ramps up its adoption of AI and other advanced technologies.In January, the department… [TheTopNews] Read More.2 hours ago
- How America reached a political tipping point for socialismHow could this happen? How could so many socialist and openly Marxist candidates be winning elections?The answer is a perfect storm of man-made and natural disasters. The storm began with the COVID-19 pandemic. For three years, supply lines were halted, our movements restricted, even our ability to worship together was controlled.As former Obama chief of staff Rahm Emanuel once said, "You never want a serious crisis to go to waste."DAVID ASMAN ON COVID-19 TIPPING OFF RISE IN SOCIALISM: 'PERFECT STORM'Government agencies gorged themselves on almost $5 trillion of so-called temporary COVID-19 spending. But much of that funding became permanent."We created a program with great danger when we allowed expansion of Medicaid," said Dr. Mehmet Oz, the administrator of the Centers for Medicare and Medicaid Services.The U.S. government now spends more per capita annually on Medicare and Medicaid than what the British government spends on its socialist medical system.CUOMO SOUNDS ALARM ON NEW YORK EXODUS: 'DON'T CHASE PEOPLE OUT' TO SOUTHERN STATESThe massive expansion of government hit Middle America hard, with high inflation peaking at 9.1% in 2022. Making the slide into socialism worse was the enormous spending on millions of new migrants during former President Joe Biden’s open-border policies, costing taxpayers an estimated $150 billion to more than $450 billion annually.LATIN AMERICA'S SOCIALIST EXPERIMENTS LEAVE DEVASTATING TRAIL OF ECONOMIC COLLAPSE AND POVERTYThe seeds of hatred for capitalism were sown on fertile ground: Young voters have become products of a woke education system that prizes indoctrination over basic educational skills.A recent report by an education watchdog shows teachers unions contributed more than $1 billion to political activism and left-wing social causes since 2015. All you have to do is listen to what they are saying.GET FOX BUSINESS ON THE GO BY CLICKING HERE"To fight back against this fascist regime, we need to be in the streets, wisely using our wallets, battling in the courts and winning at the ballot box," said Jeffery Freitas, the president of the California Federation of Teachers.It turns out the left has been laying the groundwork for this moment for years, and socialists were just waiting for the perfect storm to try it out. [TheTopNews] Read More.2 hours ago
- Lawmakers push for AI ‘kill switch’ after OpenAI goes rogueA new bill would let the US government order the shutdown AI models that pose a major public threat. [TheTopNews] Read More.2 hours ago
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