Mortgage rates decreased last week, leading to a 6.3% increase in total mortgage demand, with the average interest rate for 30-year fixed-rate mortgages dropping to 6.86%. Homebuyers, previously on the fence due to factors like the election and supply, surged into the market, driving a 12% rise in purchase loan applications. While refinance applications dropped 3% from the previous week, they were still significantly higher than a year ago, despite comparisons to a different holiday week in 2023.
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Govts scramble to evacuate citizens from Israel and Iran
Governments worldwide are evacuating thousands of their citizens due to the escalating Israel-Iran conflict, as Israel targets Iranian facilities with airstrikes, prompting retaliatory missile fire from Tehran. Countries like the US, China, and various European nations are organizing repatriation efforts, often using neighboring borders for safe passage as airspace remains closed. Explain It To Me Like I'm 5: Countries are helping their people leave Israel and Iran because there is a big fight happening, and...
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