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Month: June 2024

They bought homes with the intention to refinance. Now they’re stuck

They bought homes with the intention to refinance. Now they’re stuck

By Andrew Khouri, Los Angeles Times

Steven and Katherine Wolf missed out on the ultra-low mortgage rates of the pandemic. By the time the couple secured solid jobs and could buy a home, borrowing costs more than doubled.

Rather than wait, the former renters jumped into homeownership in fall 2022. They also stretched, buying a Bakersfield, California, home that carried an uncomfortable monthly payment.

Steven Wolf figured the pain would be fleeting. Within a year rates would drop enough to allow them to refinance and put hundreds of dollars back into their pockets.

That hasn’t happened and isn’t expected to soon. In fact, rates are higher.

Couple Steven and Katherine Wolf with their daughter Rebekah, 4, look over Everett's, 6, reading project. (Alex Horvath/Los Angeles Times/TNS)
Couple Steven and Katherine Wolf with their daughter Rebekah, 4, look over Everett’s, 6, reading project. (Alex Horvath/Los Angeles Times/TNS)

“We did this with the expectation that we would only have to weather this high payment for a chunk of time,” the 37-year old English teacher said. “Now that chunk of time is looking like it might actually be permanent.”

Across the country, many buyers employed similar strategies after rates surged in 2022 — at times encouraged by real estate agents and mortgage brokers who earn a commission on each deal. The tactic could still work, but as interest rates stay higher for longer, some Americans express varying degrees of regret as their finances buckle. read more

DeSantis vetoes Florida bill that would ban hemp products

DeSantis vetoes Florida bill that would ban hemp products

Floridians will still be able to buy and use delta-8 and other hemp products, after Gov. Ron DeSantis on Friday vetoed a bill that sought to reshape Florida’s marketplace.

As the bill, SB 1698, moved through Florida’s legislative process, it was opposed by consumers who said they need the products for their physical and mental health and by businesses who said it would cause thousands of Floridians to lose their jobs.

DeSantis, based on his veto letter, seemed to agree. In the letter, DeSantis said the bill would “impose debilitating regulatory burdens on small businesses” and would “introduce dramatic disruption and harm to many small retail and manufacturing businesses in Florida.”

A study commissioned by a hemp trade group found that Florida’s hemp market racked up more than $10 billion in sales in 2022 and employed more than 100,000 people.

DeSantis said he would encourage the Legislature to return to the topic next session to create a regulatory framework for Florida’s hemp marketplace. read more

Guide to Delta One and Delta First Class: What does each offer?

Guide to Delta One and Delta First Class: What does each offer?

Will Essilfie | (TNS) Bankrate.com

Delta Air Lines is one of the largest airlines based in the United States, having transported over 190 million customers to 290 destinations around the world in 2023, the company says, with plenty of options for frequent flyers and occasional travelers alike.

But for its most premium flyers, Delta offers two options that enable you to have a more comfortable and efficient journey from check-in to landing. Continue reading to learn about Delta’s premium cabin offerings — Delta One and First Class — and what to know about both before you book your next flight.

Delta One and Delta First Class are the most premium cabin options on Delta flights. Delta One is the airline’s most premium cabin offered on long-haul routes as well as select transcontinental flights within the United States. It offers a lie-flat seat that turns into a bed and premium food and drink options.

Although “first class” usually denotes the best an airline has to offer, Delta First refers to the airline’s domestic front-of-cabin seats that are a larger recliner seat vs. a lie-flat experience. read more