News Summary: US 30-yr mortgage rate at record low

Associated Press

RATES AT RECORD LOW: Average U.S. mortgage rates fell to fresh record lows this week, a trend that is boosting home sales.

THE NUMBERS: Mortgage buyer Freddie Mac said the average 30-year loan rate dipped to 3.31 percent, the lowest on records dating back to 1971. The average on the 15-year fixed mortgage dropped to 2.63 percent, also a record.

HOUSING RECOVERY: Home sales and construction are rising, providing a much-needed boost to the economy. Lower rates have also persuaded more people to refinance. That usually leads to lower monthly mortgage payments and more consumer spending.

Sorry you didn't like this comment. Please provide a reason below.

Are you sure?
Rating failed. Try again.
Request failed. Try again.
We will promote constructive and witty comments to the top, so everyone sees them!
Sorry, we can’t load comments right now. Try again.

    Recommended for You

    • 7 fascinating facts about living in the White House

      U.S. President Barack Obama (R) and first lady Michelle Obama (L) greet U.S. President-elect Donald Trump and his wife Melania for tea before the inauguration at the White House in Washington, U.S. January 20, 2017. While the eyes of the world were trained on Donald Trump’s inauguration on Friday, a team of staffers was working behind the scenes to turn the White House into a home for the new first family. The first family will have a staff of 96 full-time and 250 part-time workers to make sure their time in the White House runs smoothly.

      Yahoo News
    • 12 bodies found in Mexican tourist town: officials

      A dozen bodies -- including seven that were headless and mutilated -- were discovered over the weekend in western Mexico's seaside resort of Manzanillo, apparent victims of the country's epidemic of drug violence, local officials said. It was a shocking turn of events for an area popular with American and other foreign tourists, which until now had largely been spared from the bloody drug wars wracking other parts of Mexico. Seven bodies were found early Saturday in an abandoned taxi on the road from Manzanillo to the town of Cihuatlan.

      AFP
    • Royals' Ventura killed in car crash in Dominican Republic

      KANSAS CITY, Mo. (AP) — Yordano Ventura quit school as a teenager so he could begin working a construction job to help his family make ends meet, laboring day after day in the hot sun of the Dominican Republic.

      Associated Press
    • Protesters take control of Mexican border crossing with US

      TIJUANA, Mexico (AP) — Protesters took control of vehicle lanes at one of the busiest crossings on the U.S. border Sunday to oppose Mexican gasoline price hikes, waving through motorists into Mexico after Mexican authorities abandoned their posts.

      Associated Press
    • Hugo Barra leaves Xiaomi, says China has ‘taken a huge toll on my life’

      Smartphone startup Xiaomi began life as a peculiar beast. From within the safety of China, the company did all it could to copy every last detail of Apple's devices and marketing strategy, knowing there was precious little Apple could do to stop it. When Apple's portfolio was exhausted, Xiaomi moved on to Samsung, copying a large portion of its device lineup as well. But then, the company realized that it could only go so far selling phones in China and a handful of other markets. As growth was on track to slow substantially, Xiaomi knew that it had to work its way into other top-tier markets around the world. And so Xiaomi Global was born. The Xiaomi subsidiary has hit a few rough patches over the course of the past three-plus years, but today may be its roughest to date. On Monday, Xiaomi Global VP Hugo Barra announced that he is leaving the company. In a post on Facebook, Barra confirmed that he is leaving the company and moving back to Silicon Valley. "When Lei Jun and Bin Lin came to me nearly four years ago with the opportunity to help turn a young rockstar startup into a global player, I embarked on what has been the greatest and most challenging adventure of my life," Barra wrote . "I moved to Beijing, 6,500 miles out of my comfort zone in Silicon Valley, to build from scratch a startup team within a bigger startup. This journey has been nothing short of spectacular in every way, and I can proudly say that Xiaomi Global is the first baby I helped bring into the world." Then, his post took a curious turn. "But what I've realized is that the last few years of living in such a singular environment have taken a huge toll on my life and started affecting my health," Barra said. "My friends, what I consider to be my home, and my life are back in Silicon Valley, which is also much closer to my family. Seeing how much I've left behind these past few years, it is clear to me that the time has come to return." It's unclear exactly what Barra means when he says that working at Xiaomi in Beijing has "taken a huge toll" on his life and affected his health, but he goes on to run down some of the things Xiaomi Global has accomplished since he joined the company. Most notably, the company has expanded sales into Russia, Mexico, Malaysia and more than 20 additional markets. Of note, Barra will still play a role at Xiaomi moving forward. Mi president and cofounder Bin Lin confirmed in a post on Facebook that Barra will be an advisor to the company following his departure. "When Hugo joined us 3.5 years ago, we started an amazing adventure to turn Xiaomi into a global player," Lin wrote . "We have come a long way since, and I couldn’t thank him enough for contributing so much to Xiaomi’s journey. As much as we would love to have Hugo stay with us in Beijing for a much longer time, we understand his personal challenges and wish him all the best in his future endeavors. I’m also looking forward to working closely with him in his new role as advisor to Xiaomi."

      BGR News
    • 1 dead, multiple injured San Antonio shopping mall shooting

      SAN ANTONIO (AP) — A robbery inside a San Antonio shopping mall ended with shots fired on Sunday, leaving one person who tried to intervene dead, three others shot and another two people taken to hospital with non-shooting injuries, police and fire officials said.

      Associated Press
    • China urges Trump administration to grasp importance of 'one China'

      The new U.S. administration must fully understand the importance of the "one China" policy and appreciate that the issue of Taiwan is highly sensitive for the Beijing government, China said on Monday. U.S. President Donald Trump, who was inaugurated on Friday, said in December the United States did not necessarily have to stick to its long-standing position that Taiwan is part of "one China". Earlier, Trump broke with decades of precedent by taking a telephone call from Taiwan President Tsai Ing-wen.

      Reuters
    • Man convicted of 3 murders as teen kills himself in prison

      CAMP HILL, Pa. (AP) — A man who broke into a classmate's home in 2007 and stabbed the teenager and his parents to death has killed himself in prison, authorities said Monday.

      Associated Press 19 min ago
    • Capcom Isn't Bringing ‘Resident Evil 7’ To The Nintendo Switch

      "Resident Evil 7" producer Masachika Kawata appears to be optimistic about the Nintendo Switch's hardware, but they have no plans on bringing the game to console yet.

      International Business Times
    • President Donald Trump’s first Monday in office (17 photos)

      If recent promises are any indication, President Trump is poised for a very busy first Monday in the White House. Trump and other top officials have teased a myriad of potential executive actions and announcements that will happen Monday. Trump said in an interview with the Times of London he considered Monday his first “real” work day following his inauguration weekend. The White House released a schedule of his day Sunday evening that included: 9 a.m.: Breakfast and listening session with key business leaders 10:30 a.m.: Signs executive orders 11 a.m.: President’s Daily Briefing 12 p.m.: Lunch with the vice president 3 p.m.: Listening session with union leaders and workers 5 p.m.: Bicameral Leadership Reception 6 p.m.: Meets with House Speaker Paul Ryan In a video message two weeks after his election, Trump pledged that on “day one” he would take the following actions: Withdraw from the Trans Pacific Partnership Cancel “job killing” restrictions on American energy. Institute a new rule that for every one new regulation put in place, two old ones should be eliminated Ask the Department of Defense and chairman of the Joint Chiefs to develop a plan to protect infrastructure from cyberattacks Direct the Department of Labor to investigate all abuses of visa programs Impose a five-year ban on executive officials becoming lobbyists after leaving the administration Other White House officials tell ABC News that other potential executive actions could come related to a declaration of intention to renegotiate NAFTA and other potential orders related to immigration and repealing the Affordable Care Act . White House press secretary Sean Spicer will hold his first official press briefing with members of the press corps, after he blasted the media Saturday in his first press room statement, accusing news organizations of falsely reporting the size of crowds at the Jan. 20 inauguration and intentionally framing photographs to “minimize the enormous support” of those in attendance. (“GMA”) See more news-related photo galleries and follow us on Yahoo News Photo Tumblr .  

      Yahoo News Photo Staff
    • U.S. blocks health insurer Aetna's $34 billion Humana acquisition

      A U.S. judge blocked on Monday health insurer Aetna Inc's proposed $34 billion acquisition of smaller peer Humana Inc, raising the stakes for rival Anthem Inc as it battles to clear a $54 billion deal to buy Cigna Corp. The ruling is the latest sign of antitrust authorities having grown more assertive under U.S. President Barack Obama, whose term ended last week.

      Reuters 22 min ago
    • Chen lands 5 quads to win US figure skating title with ease

      KANSAS CITY, Mo. (AP) — Nathan Chen stood on the top step of the podium and stifled a smile as U.S. Figure Skating president Samuel Auxier, preparing to drape a gold medal around his neck, bowed down before him.

      Associated Press
    • Sprint to buy a third of Jay Z's music streaming service Tidal

      U.S. wireless carrier Sprint Corp said on Monday it would buy 33 percent of Tidal, a music streaming service owned by rapper Jay Z, marking a move to more content driven services in a highly competitive wireless market. Sprint paid $200 million for the stake, and Jay Z and each of the company's two dozen artist-owners will remain part owners, according to a person familiar with the deal. Sprint shares rose 3.4 percent to $9.23 in midday trading on the New York Stock Exchange.

      Reuters
    • Talks on Syria's civil war off to a rocky start

      ASTANA, Kazakhstan (AP) — Talks between the Syrian government and representatives of rebel factions got off to a rocky start Monday after their first face-to-face meeting in Kazakhstan that marked a major shift in the war's dynamics and confirmed Russia's role as regional heavyweight.

      Associated Press
    • Powerful Quake Hits Off Papua New Guinea

      An earthquake measuring 7.9-magnitude struck 25 miles west of Panguna in Papua New Guinea, the United States Geological Survey said Sunday.

      International Business Times
    • Former mayor's Wild West dream heads for courthouse showdown

      HARRISBURG, Pa. (AP) — An obsession with the Wild West compelled then-Mayor Steve Reed to scour the country for artifacts and plan for a museum to house them all in the unlikely location of Harrisburg, Pennsylvania.

      Associated Press
    • Tiffany Trump Wears the Shoe Brand That is Suing her Sister

      Tiffany Trump recently posted an Instagram of herself and brother Eric Trump posing at the White House. Tiffany's patriotic flats she was wearing in the photo are by Aquazzura, the same designer who has filed a lawsuit against Tiffany's sister, Ivanka Trump.

      Yahoo Style
    • Chelsea Clinton shuts down trolls who targeted Barron Trump

      Former First Daughter Chelsea Clinton has spoken out in defence of Barron Trump, the US president's youngest son, after trolls targeted him with cruel memes online during the inauguration.  In a Facebook post Chelsea, who spent much of her teenage years in the spotlight while her dad Bill Clinton was president, said the 10-year-old "deserves the chance every child does-to be a kid".  But she also turned political: "Standing up for every kid also means opposing POTUS policies that hurt kids". Criticism of Barron's facial expressions and posture during the inauguration was widespread on social media, with people mocking him and calling him out for looking bored.  A Saturday Night Live writer even tweeted: "Barron will be this country's first homeschool shooter". The tweet was later deleted.  People on Facebook praised Chelsea for defending Barron while also expressing her political ideas:  BONUS: Donald Trump's inauguration address included a Bane quote ›

      Mashable
    • China to prosecute former Tianjin mayor for suspected graft

      China will prosecute the former mayor of the northern city of Tianjin for suspected graft, the state prosecutor said on Sunday, taking a step that will almost certainly result in his conviction. Dozens of senior people have been investigated or jailed since President Xi Jinping assumed power four years ago, vowing to root out corruption, warning, like others before, that the problem threatens the Communist Party's grip on power. The party announced in September the investigation into Huang Xingguo, who had been mayor of the important port city - about an hour from Beijing - since 2008.

      Reuters