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US mortgage rates: 30-year home loan rate inches up to 6.16%, stays near 2025 low as housing demand remains cautious – The Times of India

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US mortgage rates: 30-year home loan rate inches up to 6.16%, stays near 2025 low as housing demand remains cautious – The Times of India


The average interest rate on a 30-year US mortgage edged slightly higher this week but remained close to its lowest level of 2025, offering limited relief to homebuyers amid a still-challenging housing market, according to data released by Freddie Mac.The average long-term mortgage rate rose to 6.16% this week from 6.15% last week, when it had slipped to its lowest level since October 3, 2024, AP reported. A year ago, the rate stood significantly higher at 6.93%, Freddie Mac said.Borrowing costs on 15-year fixed-rate mortgages, often favoured by homeowners refinancing their loans, also moved up marginally to 5.46% from 5.44% a week earlier. The rate averaged 6.14% during the same period last year.Mortgage rates are shaped by a range of factors, including Federal Reserve policy signals, inflation expectations and movements in the bond market. They tend to track the 10-year US Treasury yield, which was at 4.17% around midday on Thursday.Rates have largely stabilised in recent weeks after easing from late October, when the 30-year mortgage rate dipped to 6.17%, then its lowest level in over a year. The decline followed expectations of US Federal Reserve rate cuts, which began in September and continued last month.Although the Fed does not directly set mortgage rates, its interest rate decisions can influence investor behaviour. Rate cuts often signal slowing growth or easing inflation, prompting demand for US government bonds and pushing down long-term yields, which in turn can lower mortgage rates.Overall, the average 30-year mortgage rate ended last year nearly a percentage point lower than at the start of 2025, helping improve purchasing power for some buyers toward the end of the year. Sales of previously owned US homes rose month-on-month in September, October and November.However, November sales were lower than a year earlier — the first such decline since May — and the market is on track to finish the year below 2024 levels. Data on December existing home sales are due next week.Lower mortgage rates have offered some relief to buyers who can afford current prices. The median monthly US housing payment fell to $2,365 in the four weeks ended January 4, down 4.7% from a year earlier, according to Redfin.Despite this, housing affordability remains a major hurdle, especially for first-time buyers, due to years of rising home prices and modest wage growth. Economic and job market uncertainty has also kept many potential buyers on the sidelines.Economists broadly expect the average 30-year mortgage rate to hover slightly above 6% through the year, suggesting borrowing costs are unlikely to fall sharply in the near term.



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US job creation in 2025 slows to weakest since Covid

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US job creation in 2025 slows to weakest since Covid


The number of jobs created in the US grew only modestly in December, as a weak year for the employment market in the world’s largest economy drew to a close.

Employers added 50,000 jobs in the final month of 2025, according to Labor Department data, which was fewer than expected. But the unemployment rate dipped to 4.4%.

Job gains last year were the smallest since 2020, when the Covid pandemic led to widespread cuts.

Businesses have been operating in an environment marked by US President Donald Trump’s dramatic policy changes, including tariffs, an immigration crackdown and cuts to government spending.

The US economy has held up in the face of these shifts, growing at an annual rate of 4.3% over the three months to September.

But the expansion – driven by steady consumer spending and a growth in exports – has not been accompanied by significant job creation.

On average, the US added just 49,000 roles per month in 2025, down from an estimated gain of two million a month the year before.

The Labor Department said the US also added 76,000 fewer new positions in October and November than previously estimated.

Retailers and manufacturers were among the sectors reporting losses last month, which were offset by hiring at health care employers, bars and restaurants.

The data underscores the mixed dynamics facing job-seekers in the US, where hiring has cooled markedly over the last year but fears of mass layoffs have not materialised.

The US Federal Reserve central bank has responded to the slowdown by cutting its key lending rate in hopes of giving the economy a boost, despite concerns that inflation is still bubbling.

But the central bank is divided about how much lower borrowing costs should go.

Analysts said the latest figures – which showed the jobless rate recovering to the 4.4% level where it stood in September – would do little to resolve those debates.

“Today’s report confirms what we think has been evident for some time—the labor market is no longer working in favour of job seekers,” said Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management.

But she added: “Until the data provide a clearer direction, a divided Fed is likely to stay that way. Lower rates are likely coming this year, but the markets may have to be patient.”



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Global Healthcare Fund Offers $70 Million To Pinnacle Blooms For Expansion: Report

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Global Healthcare Fund Offers  Million To Pinnacle Blooms For Expansion: Report


Pinnacle Blooms Network, the pediatric therapy venture of Bharath Healthcare Laboratories, has secured $70 million (Rs 630 crore) from Global Healthcare Fund to fuel its expansion plans.

The two-tranche Series A round, advised by Yukon Capital, is set to become one of the largest early-stage investments in child development infrastructure across Asia, reported Hindu Business Line.

The funding will be deployed in two phases. The first tranche of $70 million will support rapid domestic expansion and technology upgrades. A second follow-on tranche is planned as the company enters markets in Southeast Asia and the GCC.

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Capital deployment will enable Pinnacle to scale its network from 70 to 300 multidisciplinary therapy centres within 24 months. It will also accelerate R&D for home-based TherapeuticAI solutions, support large-scale manufacturing of TherapySphere sensory rooms, and fund regulatory submissions for international market access.

At the core of the platform is the proprietary Pinnacle Child Development Operating System—a multi-patent-filed digital therapeutic ecosystem that measures, predicts, and personalizes every aspect of a child’s developmental journey across speech, motor, cognitive, and behavioral domains.

Aneesh Madhav, Chief Executive Officer, Yukon Capital, said, “Pinnacle has solved the fundamental problem in developmental health — how do you make therapy measurable, scalable, and accessible without losing the human element.”

Dr. Koti Reddy Saripalli, Founder G Chairman, Bharath Healthcare Laboratories, said, “The world has finally recognized that developmental health is not charity; it’s essential infrastructure. We’re not raising capital to grow. We’re raising capital to ensure that every child on earth who needs measurable therapy can access it.”



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Elon Musk’s Grok AI image editing limited to paid users after deepfakes

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Elon Musk’s Grok AI image editing limited to paid users after deepfakes


Elon Musk’s platform X has limited image editing with its AI tool Grok to paying users, after it came under fire for allowing people to make sexualised deepfakes.

There has been a significant backlash after the chatbot honoured requests from users to digitally alter images of other people by undressing them without their consent.

But Grok is now telling people asking it to make such material that only paid subscribers would be able to do so – meaning their name and payment information must be on file.

The BBC has approached X for comment.

Those who do not subscribe can still use Grok to edit images on its separate app and website.

“Musk has thrown his toys out of the pram in protest at being held to account for the tsunami of abuse,” said Professor Clare McGlynn, an expert in the legal regulation of pornography, sexual violence and online abuse.

“Instead of taking the responsible steps to ensure Grok could not be used for abusive purposes, it has withdrawn access for the vast majority of users.”

It comes after the government urged regulator Ofcom to use all its powers – up to and including an effective ban – against X over concerns about unlawful AI images created on the site.

Addressing concerns that sexualised images of adults and children had been generated by Grok, Prime Minister Sir Keir Starmer said it was “disgraceful” and “disgusting”.

He said Ofcom had the government’s “full support” to act on the content.

“It’s unlawful. We’re not going to tolerate it. I’ve asked for all options to be on the table,” he said in an interview with Greatest Hits Radio.

Government sources told BBC News: “We would expect Ofcom to use all powers at its disposal in regard to Grok and X.”

Ofcom’s powers under the Online Safety Act include being able to seek a court order to prevent third parties from helping the Elon Musk-owned platform raise money or be accessed in the UK.

The BBC has approached the regulator for comment.

Grok is a free tool which users can tag directly in posts or replies under other users’ posts to ask it for a particular response.

But the feature has also allowed people to request it to edit images – and ask it to digitally strip people of most of their clothing.

Grok has fulfilled many user requests asking it to edit images of women to show them in bikinis or little clothing – something those subject to such requests have told the BBC left them feeling “humiliated” and “dehumanised“.

However as of Friday morning, Grok has told users asking it to alter images uploaded to X that “image generation and editing are currently limited to paying subscribers”.

It adds users “can subscribe to unlock these features”.

Some posts on the platform seen by BBC News suggest only those with a blue tick “verified” mark – exclusive to X’s paid subscriber tier – were able to successfully request image edits to Grok.

Prof McGlynn said the move echoed X’s approach to pornographic Taylor Swift deepfakes on the platform last year – where it blocked searches for sexualised material generated of the popstar using a Grok AI video feature.

“He is doing this to stoke free speech arguments,” she added.

“He will claim regulation is stifling people’s use of this technology. But, all the regulation requires is that he takes necessary precautions to reduce harm.”



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