Mortgage rates unlikely to dip this year, experts say
CBSN
The highest mortgage rates in more than two decades have many Americans wondering when borrowing costs could recede. For now, the answer is murky, although some analysts think that rates on home loans have likely peaked.
The path for mortgages depends as ever on the Federal Reserve's plans for its benchmark short-term lending rate. And on that score there is more certainty: Wall Street investors overwhelmingly expect policy makers to leave rates unchanged when they release their latest readout on the state of the economy on Wednesday.
The rate on a 30-year fixed-rate mortgage is 7.18% 6.51% for a 15-year loan, according to Freddie Mac data. Those rates, along with higher home prices, have made it more challenging for the average American to purchase a house.
Primaries in different parts of the country on Tuesday could exert some influence on Republicans' chances at gaining back ground from Democrats in November and help decide whether an often unpredictable House Republican who has upset members of her own party will make it to the general election. Here are a few races to watch:
A blistering heat wave that recently brought record-breaking temperatures to large sections of the southwestern United States, including several major cities, is forecast to continue this week as it tracks over much of the country on its way toward the East Coast. Meanwhile, meteorologists have warned that powerful storm weather could dump as much as a foot of rain, or more, on parts of Florida and potentially give rise to another round of tornado threats in central states. Metropolitan areas like Chicago may be affected by a possible twister.
After four days of voting, with more than 400 million people eligible across 27 countries, European voters have pulled the bloc's 720-seat parliament farther to the right than it has ever been. The European Parliament, for the next five years, will now have a record number of far-right legislators. Far-right parties made gains in Europe's top three economies — Germany, France and Italy — with gains by politicians who campaigned against immigration, against support for Ukraine and against climate policy.
Apple's annual Worldwide Developers Conference is typically a springboard for the company to announce new tech features for its software programs, and not as flashy as its yearly September event to trumpet its latest iPhone rollout. But this year, the WWDC could be a make-or-break moment for the tech giant.