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The past few years haven’t been easy for prospective homebuyers, with the average 30-year fixed mortgage rate peaking at nearly 8% last fall. But the market is showing signs of improvement.
Mortgage rates fell this week to 6.2%, their lowest level since early 2023. While that’s still much higher than before and during the pandemic, it’s a sign of relief to come as the Federal Reserve is widely expected to cut the federal funds rate next week. The central bank heavily influences the lending rates financial institutions offer to consumers.
“Rates continue to soften due to incoming economic data that is more sedate,” Freddie Mac’s chief economist said.
Photo by JASON REDMOND/AFP via Getty Images
Thousands of Boeing’s unionized factory workers voted to go on strike, adding to the embattled plane maker’s woes as it faces scrutiny over aircraft safety. The members of the machinists’ union rejected a tentative deal from the company which offered 25% raises over four years and lower healthcare costs, and a union president said its leadership is prepared to go back to the negotiating table with the company to “resolve the issues.”
A driverless Kodiak truck hauls sand in West Texas.
Startup Kodiak Robotics, which is developing driverless big rigs, is pivoting to get its tech into commercial operation by going offroad—where signs, traffic signals, other vehicles, public agencies and regulations aren’t a top concern. In a first-of-its-kind deal, it will start running robot trucks for Atlas Energy between remote West Texas sand mines and oil and gas fields on private roads. “We think this contract gets us on a path to profitability,” says Kodiak’s CEO Don Burnette.
The FDA approved the first over-the-counter hearing aid software device to hit the market, which Apple said earlier this week would be compatible with its latest earbuds. The agency said the software could be installed on Apple’s AirPods Pro headphones to amplify sounds for anyone 18 or older with mild to moderate hearing impairment.
Defense tech startup Second Front, which gives companies a quick on-ramp to deploying software within sensitive government networks, has raised $75 million to expand internationally, the company told........