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Month: February 2025

Average US rate on a 30-year mortgage eases to 6.87%, fourth straight weekly decline

Average US rate on a 30-year mortgage eases to 6.87%, fourth straight weekly decline

By ALEX VEIGA, AP Business Writer

The average rate on a 30-year mortgage in the U.S. eased for the fourth week in a row, an encouraging sign for prospective home shoppers as the spring homebuying season gets underway.

The average rate fell to 6.87% from 6.89% last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.77%.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their home loan to a lower rate, rose this week. The average rate increased to 6.09% from 6.05% last week. A year ago, it averaged 6.12%, Freddie Mac said.

Mortgage rates are influenced by several factors, including how the bond market reacts to the Federal Reserve’s interest rate policy decisions. The average rate on a 30-year mortgage briefly fell to a 2-year low last September, but has been mostly hovering around 7% this year. That’s more than double the 2.65% record low the average rate hit a little over four years ago.

Rising home prices and elevated mortgage rates, which can add hundreds of dollars a month in costs for borrowers, have kept many prospective home shoppers on the sidelines, especially first-time buyers who don’t have equity from an existing home to put toward a new home purchase. read more

Igloo recalls over a million coolers after handle hazard causes fingertip amputation injuries

Igloo recalls over a million coolers after handle hazard causes fingertip amputation injuries

NEW YORK (AP) — Igloo is recalling more than 1 million of its coolers sold across the U.S., Mexico and Canada due to a handle hazard that has resulted in a handful of fingertip injuries, including some amputations.

The now-recalled “Igloo 90 Qt. Flip & Tow Rolling Coolers” have a tow handle can pinch users’ fingertips against the product — posing potential amputation and other crushing risks, according to a Thursday recall notice from the U.S. Consumer Product Safety Commission.

Igloo has received 12 injury reports in the U.S., the CPSC notes, which include fingertip amputations, bone fractures, and lacerations. There are no known injuries in Canada or Mexico.

Consumers in possession of the coolers are urged to stop using them immediately — and contact Igloo for a free replacement handle.

The now-recalled coolers were sold at major retailers like Costco, Target, Dick’s and Amazon between 2019 and January 2025 for between $80 and $140. About 1.06 million were purchased in the U.S., in addition to 47,000 in Canada and another 23,000 in Mexico. read more

SeaWorld: Coasters After Dark adds taste of Seven Seas food fest

SeaWorld: Coasters After Dark adds taste of Seven Seas food fest

SeaWorld Orlando is spicing up an after-hours event. The theme park’s Coasters After Dark, which returns March 12, will have elements of its Seven Seas Food Festival included.

The limited time/limited attendance event allows access to eight thrill rides: Manta, Mako, Kraken, Pipeline, Ice Breaker, Journey to Atlantis, water ride Infinity Falls and Penguin Trek, the coaster that debuted in July. The idea is fewer people and shorter wait times.

This time around, admission will include a five-sample lanyard for use at select Seven Seas booths. SeaWorld says that will include mini beef gyros and fish and chips as menu options. There’s also complimentary popcorn included at three in-park locations during the event.

New park president set for Busch Gardens Tampa Bay

Upcoming Coaster After Dark dates are March 12, March 28, April 4 and April 11.  After Dark’s operating hours are 9 p.m. through midnight.

The admission price posted on SeaWorld’s website is $69.99.  This is a separate ticket from daily SeaWorld Orlando admission. read more

Florida lawmakers support space industry needs but some caution against ‘speed of plaid’ response

Florida lawmakers support space industry needs but some caution against ‘speed of plaid’ response

State lawmakers expressed support Wednesday for a space industry “big six” list of infrastructure needs to meet rapid growth amid expansion efforts by Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX.

But some also cautioned against expecting a light-speed response.

“You must understand, we are a government. We do not work quick. We’re behind on roads in this state. We have a lot of people coming here for reasons other than space,” Rep. Randy Maggard, R-Dade City,said during a House Transportation & Economic Development Budget Subcommittee meeting. “We just can’t flip a switch. We’re not going to, you know, what is it? We’re not going to go to the speed of plaid, right?”

Faster than light speed, ships in the 1987 Mel Brooks spoof “Spaceballs” could use a hyperdrive called “ludicrous speed” that created a plaid pattern for people in its wake.

Otherwise, lawmakers appeared to continue to offer support as they held a panel discussion on the future of the space industry. Industry officials focused on six areas of need. read more

Joann moves to close 500 of its stores across the US amid bankruptcy

Joann moves to close 500 of its stores across the US amid bankruptcy

By WYATTE GRANTHAM-PHILIPS, Associated Press

NEW YORK (AP) — Struggling fabric and crafts seller Joann plans to close about 500 of its stores across the U.S. — or more than half of its current nationwide footprint.

The move, announced Wednesday, arrives amid a tumultuous time for Joann. Last month, the Hudson, Ohio-based retailer filed for Chapter 11 bankruptcy protection for the second time within a year, with the company pointing to issues like sluggish consumer demand and inventory shortages.