Powell was referring to the current situation in which homeowners holding historically low rate mortgages aren’t feeling incentivized to sell their homes, reducing the number of properties available in the market. A Federal Housing Finance Agency research paper published in March 2024 shows that nearly all 50 million active mortgages have fixed rates, and most [...]read moreWhen will the Fed’s moves alleviate the lock-in effect?
The National Highway Traffic Safety Administration closed a long-standing investigation into Tesla’s Autopilot driver assistance system after reviewing hundreds of crashes involving its misuse, including 13 that were fatal and “many more involving serious injuries.” At the same time, NHTSA is opening a new investigation to evaluate whether the Autopilot recall fix that Tesla implemented [...]read moreTesla Autopilot investigation closed after feds find 13 fatal crashes related to misuse
Mortgage rates had a chance to break to new highs this year, but the Federal Reserve took a moderate tone at the last Fed meeting. We saw the benefit of lower mortgage rates with the last two existing home sales reports, which showed growth. Then mortgage rates rose, facilitating five weeks of negative purchase application [...]read moreMortgage rates helped by the Fed’s moderate stance
The Fed is putting us all in danger. With high rates, low inflation, a strong job market, and millions of Americans wishing they could buy a home (but can’t), we’re in a strange position. Buying a home is still unaffordable even with rising wages, but the Fed won’t drop rates BECAUSE of rising wages and [...]read moreThe Fed’s Plan “Backfired,” Now They’re Scrambling
Days after it was knocked offline by a sweeping, years-in-the-making law enforcement operation, the notorious Russia-based LockBit ransomware group has returned to the dark web with a new leak site complete with a number of new victims. In a verbose, borderline-rambling statement published Saturday, the remaining LockBit administrator blamed its own negligence for last week’s [...]read moreFeds hack LockBit, LockBit springs back. Now what?
The National Highway Traffic Safety Administration has opened a second investigation into EV startup Fisker’s Ocean SUV, after the agency received four complaints about the vehicle rolling away unexpectedly, including one injury. The company tells TechCrunch it is “fully cooperating” with the safety agency. The new probe comes just one month after NHTSA’s Office of [...]read moreFeds open second probe into Fisker’s Ocean SUV after rollaway complaints