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Although there was no change in mortgage rates last week, the demand for new house loans kept declining. The higher loan rates of today are a hindrance to both prospective and existing homeowners. The seasonally adjusted index from the Mortgage Bankers Association showed a 2% drop in the overall volume of mortgage applications from the previous week. on 30-year fixed-rate mortgages with conforming loan balances of $766,550 or less, the average contract interest rate stayed at 7.02%, while points on loans with a 20% down payment increased from 0.62 to 0.63 (including the origination fee). Home loan refinance applications fell 7% for the week and increased 5% over the same period last year. Few people are able to take advantage of the 24 basis point increase in interest rates from a year ago...

On Wednesday, former Senator Bob Menendezis will be sentenced in federal court in New York on accusations of bribery and corruption. Prosecutors are recommending that he be imprisoned for 15 years. The 71-year-old former leader of the influential Senate Foreign Relations Committee calls the plan "vindictive and cruel" and "a life and death sentence" for the New Jersey Democrat. In July, following a dramatic trial in which prosecutors accused Menendez of accepting bribes, including cash and gold bars, to favour the governments of Qatar and Egypt, he was convicted guilty of extortion, conspiracy, obstruction of justice, and operating as a foreign agent. Menendez entered a not guilty plea and promised to challenge the verdict. According to NBC News, he has also been requesting a pardon from P...

A little more than a week after President Donald Trump took office for a second term with Elon Musk at his side, Tesla released its fourth-quarter earnings report. Shareholders of the electric car manufacturer have some concerns now that the CEO of Tesla is firmly established in Washington, D.C., in a prominent advisory position. More than 100 shareholders posted questions regarding Musk's politics, including his official position at Trump's Department of Government Efficiency (DOGE) and his support of far-right candidates, on the forum that Tesla uses to ask investors questions before its earnings calls. In comparison to his public interactions with Trump, DOGE, and political activities, how much time does Elon Musk spend expanding Tesla, resolving product difficulties, and increasing sha...

WASHINGTON — According to the Pentagon, Defense Secretary Pete Hegseth informed former Joint Chiefs of Staff Chairman Mark Milley that he ordered a review of the retired general's actions to determine whether his rank should be reevaluated and that he was rescinding his security detail and clearance. The Defense Department's inspector general was instructed by Hegseth, who began his tenure at the Pentagon on Monday, to investigate "the facts and circumstances" surrounding Milley's actions "so that the Secretary may determine whether it is appropriate to reopen his military grade review determination," according to Pentagon spokesman John Ullyot. Although Defense Department chief of staff Joe Kasper stated that restoring accountability is a top goal for the Defense Department under Presiden...

California's Pebble Beach. While recuperating from glass piercing his right palm while creating ravioli, Scottie Scheffler was irritated by having to remain at home for two events that he usually participates in. He was grateful that the injury wasn't more severe. Scheffler discussed in detail on Tuesday how he hurt his hand preparing Christmas dinner and how he worked out hard in Dallas's frigid temperatures early last week to ensure he wasn't making an early comeback to the PGA Tour. With an 80-man field that includes amateur partners for the first two rounds at Pebble Beach and Spyglass Hill, he makes his season debut at the AT&T Pebble Beach Pro-Am, the second $20 million signature event. Without a bandage and swinging as easily as ever, Scheffler performed at Cypress Point on Mo...

India's Prayagraj Millions of pilgrims flocked to plunge in holy waters during the Maha Kumbh festival in northern India early Wednesday, causing a stampede that left at least 30 people dead and several others injured, according to police. Another 60 injured people were taken to hospitals, according to Prayagraj city police official Vaibhav Krishna. Authorities anticipated that a record 100 million devotees would take a ceremonial bath at the meeting point of the Ganges, Yamuna, and the fabled Saraswati rivers on Wednesday, a sacred day during the six-week Hindu holiday. Hindus think that taking a swim at the sacred location can absolve them of their previous transgressions and put an end to the cycle of rebirth. Yogi Adityanath, the top elected official in Uttar Pradesh state, said in ...

In an increase in threats against the Jewish community that authorities referred to as terrorism, Australian police announced on Wednesday that they had stopped a planned antisemitic attack after finding a caravan filled with explosives. According to New South Wales Deputy Police Commissioner David Hudson, the caravan was found on January 19 in the district of Dural, around 36 kilometers (22 miles) northwest of Sydney's downtown, he said at a press conference. He said at a press conference that the caravan had a number of bombs and there were signs that they would be utilized in an antisemitic assault. He said that the Jewish community was no longer under danger because the threat had been completely eliminated. Hudson stated that there had been arrests, but he did not specify the number o...

After his Russian counterpart declined to hold peace talks with him and once again questioned his legitimacy, Ukrainian President Volodymyr Zelenskyy accused Vladimir Putin of being reluctant to negotiate. President Donald Trump's increasing pressure on both sides to end the war coincided with the most recent exchange between the two leaders. Last week, Trump threatened to impose additional penalties on Moscow, claiming that Zelenskyy was willing to engage in negotiations to put an end to the nearly three-year-old conflict. In a late-Tuesday post on X, Zelenskyy said that Putin had once again reaffirmed his fear of strong leaders, his fear of discussions, and his determination to keep the war going. After Putin told state TV Rossiya 1 that the Ukrainian leader is illegitimate and therefore...

As they bounce back from pandemic-related setbacks, South Carolina schoolchildren continue to show incredible perseverance. WEST COLUMBIA, S.C. — The most recent findings from the National Assessment of Educational Progress (NAEP), also referred to as the Nation's Report Card, show that South Carolina children are still exhibiting exceptional resilience as they bounce back from pandemic-related setbacks. Fourth-graders in South Carolina are surpassing their national counterparts in reading and math, while the state's economically disadvantaged pupils are making significant strides in critical subjects, defying the national pattern of losses. State Superintendent Ellen Weaver remarked, "These outcomes are a testament to the dedication and perseverance of our students, educators, and familie...

Due to ongoing concerns about the kidnapping of actor Wang Xing, Chinese tourists are canceling their plans to visit Thailand over the Lunar New Year holiday. The marketing firm China Trading Desk reports that following the announcement of Wang's rescue from a scammer compound along the Thai-Myanmar border this month, net booking volume for travel to Thailand dropped 15.6% from January 13 to January 20 compared to the previous week. Data from the aviation analytics firm VariFlight indicates that Chinese tourists also canceled vacation vacations to Vietnam, Singapore, Indonesia, and Malaysia, albeit to a smaller extent, indicating that the repercussions is also reaching other Southeast Asian nations, according to Subramania Bhatt, CEO of the company. More from CNBC: Google reclassi...