US mortgage rates approached 7% last week, prompting a decline in applications for home purchases. The contract rate on a 30-year fixed mortgage increased 13 basis points to 6.97% in the week ended March 15, according to Mortgage Bankers Association data released Wednesday. The MBA’s index of mortgage applications for home purchases declined 1.2% to…
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The National Association of Realtors’ legal settlement upends the traditional model of sellers paying for the buyer’s agent in a home purchase. The agreement has the potential to save home sellers billions of dollars every year, but could also complicate purchases for buyers. The NAR, the largest trade group representing residential real estate agents, agreed…
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The national ensign flag at local military bases will be at half-mast for 29 days, marking the death of Gen. Alfred Gray, the 29th Marine Corps commandant and legendary Marine who rose from the rank and file and helped set the foundation for how Marines fight. “Today I mourn with all Marines, past and present,…
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SEOUL, South Korea – Major League Baseball might come back to South Korea some day. But first the drummers who pounded away throughout the Seoul Series finale might be going in for labrum surgery. The Dodgers and San Diego Padres gave them plenty to pound about Thursday night, putting up runs Gangnam style. Mookie Betts…
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Sandra Mendez Duran was studying at UC Riverside when she noticed two names in a book: Gonzalo and Felicitas Mendez. Duran was familiar with the names — they were her parents’ — but not the story that went along with them, the story of a young couple who fought back when they were told their…
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SEOUL, South Korea — Shohei Ohtani rose to international celebrity status without a hint of scandal, joining the Dodgers as such a powerful brand that the team plans to capitalize financially even with the $700 million they will ultimately pay him. That changed just one game into Ohtani’s Dodgers career. In the clubhouse following Wednesday’s…
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Imagine a bustling city in California where hardworking teachers, first responders, healthcare professionals, and many others struggle to find affordable homes. Actually, it’s not hard to imagine at all as California has experienced a decades-long housing crisis—millions of apartments and homes behind in production. Now, imagine a remarkable solution–a Workforce Housing Program. Picture this program…
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It was 1973 in Jerusalem. I was 21 years old walking through the Arab section of the Old City. I was sporting a massive afro and wearing an army jacket with the name “Elder” above the pocket, a gift from my little brother who was serving. I heard footsteps, so I stopped, turned around and…
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The Pennsylvania-based U.S. Steel company recently agreed to be purchased by the Tokyo-headquartered publicly traded company Nippon Steel. This deal makes sense to economists. It will encourage other foreign companies to invest in the U.S., creating wealth and new job opportunities, and further shoring up the U.S. economy, particularly amid inflation worries. More importantly, this…
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Federal Reserve officials are planning to cut interest rates this year, real estate agents are likely to slash their commissions after a major settlement and President Joe Biden has begun to look for ways his administration can alleviate high housing costs. A lot of change is happening in the housing market, in short. While sales…
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