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Average long-term mortgage rate at lowest level in six weeks

Published Fri, 07 Feb 2025 18:24:39 GMT

The average long-term U.S. mortgage rate inched down this week to its lowest level in six weeks, just as the spring buying season gets underway.Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell for the third straight week, to 6.32%, from 6.42% last week. The average rate a year ago was 4.67%.The recent decline in mortgage rates is good news for prospective homebuyers, as many were pushed to the sidelines during the past year as the Federal Reserve cranked up its main borrowing rate nine straight times in a bid to bring down stubborn, four-decade high inflation.Also helping buyers, home prices appear to be leveling off. The national median home price slipped 0.2% from February last year to $363,000, marking the first annual decline in 13 years, according to the National Association of Realtors.One thing that hasn’t gotten much better is the supply of homes.“Over the last several weeks, declining rates have brought borrowers back to...

Yellen seeking more regulation in aftermath of bank collapse

Published Fri, 07 Feb 2025 18:24:39 GMT

WASHINGTON (AP) — Weeks after the failure of two banks, Treasury Secretary Janet Yellen planned to call Thursday for tighter financial regulations. The public push is part of a larger effort by the Biden administration to safeguard the U.S. economy and ensure that individual bank failures can be contained without triggering a chain reaction across the wider financial system. Yellen plans to note that regulations have been weakened in recent years as the shocks of the 2008 financial crisis wore off, but that the recent failures required swift government intervention in order to preserve public confidence.“The failures of two regional banks this month demonstrate that our business is unfinished,” Yellen said in remarks prepared for delivery at the National Association for Business Economics conference in Washington. “Regulation imposes costs on firms, just like fire codes do for property owners. But the costs of proper regulation pale in comparison to the tragic costs of financial cri...

CBC, Netflix and APTN greenlight Arctic comedy series to be shot in Nunavut

Published Fri, 07 Feb 2025 18:24:39 GMT

TORONTO — CBC and APTN are partnering with Netflix to produce a Nunavut-shot comedy series.The streamer says the untitled comedy will centre on a young Inuk mother living in a small Arctic town “where everyone knows your business.”Co-creators Stacey Aglok MacDonald and Alethea Arnaquq-Baril say in a release they drew from their experiences “as Inuit women living, laughing and crying while Native.”The duo will also executive produce with Miranda de Pencier, who described the show as a “hilarious, unexpected and essential series.”The trio previously worked together on the Inuit lacrosse drama “The Grizzlies.” APTN’s director of TV content touted the project as a “heartfelt gem.”“A very short time ago, it would have been impossible to imagine an Indigenous comedy shot in the Arctic, with massive national and international reach,” Adam Garnet Jones said in the same release, issued by Netflix on Wednesday.This report by The Canadian Press was first published...

Man armed with weapon charged in sexual assault east of Toronto

Published Fri, 07 Feb 2025 18:24:39 GMT

A Toronto man is facing a slew of charges after he allegedly sexually assaulted a woman while he was carrying a firearm east of the city.Toronto police said around 4 a.m. on March 10, a woman was sexually assaulted in the Danforth Avenue and Robinson Avenue area.It’s alleged that the woman was walking in the neighbourhood when she encountered an unknown man who sexually assaulted her.At the time, the woman informed officers that the suspect was armed.On Wednesday, police arrested 38-year-old Akrem Mohammed of Toronto. He’s facing several charges, including aggravated assault, sexual assault, sexual assault with a weapon and carrying a concealed weapon, among other offences.The accused appeared in court on Thursday.Police are concerned there may be more victims.

Grocery code to increase ‘fair and ethical dealing’ industry, draft report says

Published Fri, 07 Feb 2025 18:24:39 GMT

An industry group set up to hammer out a Canadian grocery code of conduct is getting closer to a final document, even as the way its terms will be enforced remains unclear.A new working draft of the grocery code viewed by The Canadian Press and verified by two grocery sector sources lays out the fundamental elements of the industry-led accord, which aims to increase “fair and ethical dealing” across the grocery supply chain in Canada. Still, while a final code is anticipated this spring, several potentially large stumbling blocks remain.The draft notes that dispute resolution mechanisms are still under development, though it notes that an escalating range of options from informal discussions to formal arbitration are on the table. It also appears to be undecided how enforcement would be handled and how membership and participation in the code will work. The industry committee working on the grocery code was established in response to contentious fees being charged to sup...

Skilling: Fast-moving thunderstorms to sweep into Chicago

Published Fri, 07 Feb 2025 18:24:39 GMT

The Chicago area is preparing for a round of showers and storms and the possibility of severe weather. Clusters of fast moving thunderstorms may sweep the area in advance of the late Friday/Friday night time frame —starting as early as later Thursday night and from time to time during the day Friday.The most favorable conditions for severe weather appear focused on later Friday and Friday night. Modeling put the chances for thunderstorms at some point (and likely on multiple occasions) across the greater Chicago area over the 24 hour period from 1 a.m. Central Time Friday through 1 a.m. Central Time Saturday morning at greater than 80%. Interactive Radar: Track showers and storm here The National Weather Service's Storm Prediction Center indicates the Severe Weather Risk in Chicago later Friday is to reach level 3 on its 5 level scale--and an even higher assessment of severe weather risk reaching 4 on the 5-level scale--is indicated for the area of Illinois just west of Chicago.La...

Aldermen vote for more independence from Mayor's office

Published Fri, 07 Feb 2025 18:24:39 GMT

CHICAGO —The group of aldermen are pushing for more independence from the mayor's office happening just a week before a new mayor is elected to run the city.The aldermen are looking to increase the number of committees and subcommittees from19 to 28 which would include adding a youth services subgroup and another focused on entertainment and conventions. The group also wants council members to pick their own committee chairs instead of thew power belonging to the mayor.City Council has allowed mayors to hand-pick committee chairs for the past few decades, helping ensure the mayor could push through their legislation more quickly.Another change is stopping ordinances from being introduced last minute without making information available to the public. A rare Michael Jordan card is up for auction Even though the vote is taking place Thursday, any rules approved later would still have to be re-approved by the newly elected City Council once the new term starts.WGN reporters spoke to ...

70% of doctors say COVID misinformation has negatively impacted patients' health: poll

Published Fri, 07 Feb 2025 18:24:39 GMT

(The Hill) -- More than 70 percent of physicians surveyed in a new poll said that misinformation has made it harder to treat patients with COVID-19 and ultimately harmed patient health. In a new poll by the de Beaumont Foundation and Morning Consult, 72 percent of U.S. physicians said that misinformation made it harder to treat COVID-19 patients, while the same number said it has negatively impacted patient outcomes.More than 80 percent of physicians polled said that there is a problem with misinformation when it comes to both COVID-19 vaccines and COVID-19 treatments. Additionally, 44 percent of physicians said that more than half of the information about COVID-19 that they personally consume is misinformation. The physicians polled largely agreed on the effectiveness of COVID-19 vaccines, with more than 90 percent saying that the vaccines are safe and effective. ‘Havana syndrome’ could be the result of electromagnetic weapon: declassified report The spread of misinformation h...

The end for 'Curb Your Enthusiasm'? Jeff Garlin weighs in on the rumors

Published Fri, 07 Feb 2025 18:24:39 GMT

CHICAGO — It's a sitcom that's been running on and off since 2000, but is this finally the end for "Curb Your Enthusiasm"?Tweets from producer Jon Hayman along with director and executive producer Robert B. Weide indicated that filming had been completed for the 12th and final season of the show. Both were later deleted, but die-hard fans of the sitcom have been wondering what the fate of the Primetime Emmy and Golden Globe-winning sitcom will be.As it turns out, one of the actors in "Curb Your Enthusiasm" picked the right time to make his way to Channel 9.On Thursday, Jeff Garlin, who portrays Larry David's manager and best friend Jeff Greene, was on WGN Morning News to discuss the rumors about the end of the show. The Chicago native, who got his start in comedy at The Second City, has been a regular on the show for the previous 11 seasons. It's for that reason that he was quick to question whether the "Curb Your Enthusaism" is indeed finished."The way the show works, and has alway...

Looking for a used car? Here's why you should buy now

Published Fri, 07 Feb 2025 18:24:39 GMT

Well, it was nice while it lasted.For nearly a year, the average used vehicle in the United States had been edging toward affordable again for millions of people. The relief felt belated and relatively slight, but it was welcome nonetheless.From an eye-watering peak of $31,400 in April of last year, the average price had dropped 14% to $27,125 early this month.Now, with the supply of used vehicles failing to keep up with robust demand, prices are creeping up again, with signs pointing to further increases ahead. So many buyers have been priced out of the new-car market that fewer trade-ins are landing on dealer lots. Deepening the shortage, fewer used vehicles are coming off leases or being off-loaded by rental car companies.Average list prices for used cars have edged up by about $700 in the past month, and Alex Yurchenko, chief data officer for Black Book, which tracks prices, expects them to keep rising at least into summer.“If you have to buy a used vehicle," he suggested, "righ...