Data: Freddie Mac via Fred ; Chart: Axios Visuals The average rate on the 30-year mortgage dipped below 6% for the first time since 2022, per closely watched Freddie Mac data released Thursday. Why it matters: Lower home loan rates may help juice the housing market, which has been in the dumps since interest rates first spiked four years ago. Between the lines: It's also a boost for President Trump, who boasted about mortgage rates coming down in his State of the Union's address Tuesday. Yes, but: Higher home costs and widespread economic uncertainty is also holding back the real estate market.
House Democratic leadership on Thursday announced plans to force a vote next week on a resolution that would require President Trump to seek congressional authorization to use military force in Iran . Why it matters: The vote has a chance to pass in the House, with even some House Republicans expressing opposition as the White House inches closer to a potential major war in the Middle East. - Rep. Thomas Massie (R-Ky.), a staunch anti-interventionist, is leading the war powers effort with progressive Rep. Ro Khanna (D-Calif.). - "I have asked for a classified briefing defining the mission in Iran. In the absence of new information, I will support the War Powers resolution in the House next week," Rep. Warren Davidson (R-Ohio) posted to…
Elon Musk wants to launch a million satellites, but researchers say global warming is changing the upper atmosphere in ways that makes space junk linger.
The indictment against an agent of the Shin Bet security agency added to a growing list of Israelis accused of exploiting their positions in the security forces to profit from the war in Gaza.
New restaurants are popping up in Caracas. Nightclubs are bursting at the seams. The streets are eerily safe — with big exceptions. Could a revival be on the horizon?
Former Secretary of State Hillary Clinton testified that she has no new information regarding Jeffrey Epstein's criminal activities during a deposition before the House Oversight Committee on Thursday. Why it matters: Bill and Hillary Clinton's depositions on Thursday and Friday mark the first time a former first couple has appeared before a congressional panel under subpoena. - They cap a months-long standoff with House Republicans that nearly led to the Clintons being held in contempt of Congress . - "You have compelled me to testify, fully aware that I have no knowledge that would assist your investigation, in order to distract attention from President Trump's actions and to cover them up despite legitimate calls for answers,"…
Four people on a speedboat were killed and six injured in a "confrontation" near Cuba after those on the U.S.-registered vessel opened fire on Cuban troops, the Cuban Ministry of the Interior said.
Cindy McCain will be stepping down as head of the United Nations World Food Programme to focus on her health, the humanitarian organization announced on Thursday.
The K-shaped economy — wealthy Americans propping up consumer spending while poorer consumers increasingly pull back — has become the economic consensus. - One big problem: Some economists warn that the narrative has outrun the data supporting it. Why it matters: The narrative has seeped into how CEOs explain spending patterns and how economic policymakers think about risk. Getting this wrong may make the economy look more resilient than it is, with less of a shock absorber than previously believed if conditions turn quickly. What they're saying: "The narrative of K-shaped growth appears to be exaggerated, downplaying risks of a fragile expansion," a team of economists at Barclays wrote in a note earlier this month. The intrigue: The…