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The average long-term US mortgage rate surges to 7.49%, its highest level since December 2000

Published Tue, 25 Feb 2025 08:17:55 GMT

LOS ANGELES (AP) — The cost of financing a home surged again this week as the average long-term U.S. mortgage rate climbed to its highest level since December 2000, further dimming the affordability outlook for many would-be homebuyers.The average rate on the benchmark 30-year home loan rose to 7.49% from 7.31% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.66%.Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loan, also increased. The average rate rose to 6.78% from 6.72% last week. A year ago, it averaged 5.90%, Freddie Mac said.High rates can add hundreds of dollars a month in costs for borrowers, limiting how much they can afford in a market already out of reach for many Americans. They also discourage homeowners who locked in rock-bottom rates two years ago from selling. The average rate on a 30-year mortgage is now more than double what it was two years ago, when it was just 2.99%. The combinat...

Developed nations pledge $9.3 billion to global climate fund at gathering in Germany

Published Tue, 25 Feb 2025 08:17:55 GMT

VIENNA (AP) — Developed countries pledged $9.3 billion to help poor nations tackle climate change at a conference held in the German city of Bonn on Thursday, authorities said. However, nongovernmental groups criticized the outcome, saying the funds fall short of what is needed to tackle climate change.The pledges will help replenish the South Korea-based Green Climate Fund, established in 2010 as a financing vehicle for developing countries. It’s the largest such fund aimed at providing money to help poorer nations in reducing their emissions, coping with impacts of climate change and boosting their transitions to clean energy. The pledged money at the conference in Bonn will be used to finance projects in developing and emerging nations between 2024 and 2027. The German government alone pledged 2 billion euros ($2.1 billion). Twenty-five countries came forward with fresh pledges while five said that they would announce theirs in the near future.“The collected sum will likely turn ...

Russia has tested a nuclear-powered missile and could revoke a global atomic test ban, Putin says

Published Tue, 25 Feb 2025 08:17:55 GMT

MOSCOW (AP) — Russia has successfully tested an experimental nuclear-powered cruise missile, President Vladimir Putin said Thursday, while also warning that the country’s parliament could revoke its ratification of a treaty banning nuclear tests.In a speech at a forum of foreign policy experts, Putin announced that Russia has effectively completed the development of the Burevestnik cruise missile and the Sarmat heavy intercontinental ballistic missile and will work on putting them into production.“We conducted the last successful test of the Burevestnik nuclear-powered global-range cruise missile,” he said without elaborating. His statement was the first announcement of a successful test of the Burevestnik, which translates as “Storm Petrel.” It was first mentioned by Putin in 2018.Little is known about the Burevestnik, which was code-named Skyfall by NATO, and many Western experts have been skeptical about it, noting that a nuclear engine could be highly unreliable.It is beli...

Reba McEntire on collaborating with Dolly Parton, looking ‘tough sexy’ and living ‘Not That Fancy’

Published Tue, 25 Feb 2025 08:17:55 GMT

LOS ANGELES (AP) — Want to live like Reba McEntire? You’re in luck.On Friday, the country music and entertainment icon will release a new album to partner with her new book, “Not That Fancy: Simple Lessons on Living, Loving, Eating, and Dusting Off Your Boots.”The book, which arrives Tuesday, is a collection of recipes, memoir, photos, and lifestyle tips. The “Not That Fancy” album is a collection of acoustic covers of McEntire’s biggest hits, with a few surprises thrown in. Like Dolly Parton, who takes the place of Linda Davis on “Does He Love You.”The book, McEntire explained over the phone, is “about things not having to be so fancy or structured. Whether it’s a dinner party or going out to eat, having friends over. If you don’t have your brand-new couch in, you’ve got to cover your old couch, that’s fine. People don’t care. They just want to get together and have fun.”Re-recording some of her most recognizable songs in an intimate fashion just felt like the perfect partner...

US shoots down Turkish drone after it came too close to US troops in Syria

Published Tue, 25 Feb 2025 08:17:55 GMT

WASHINGTON (AP) — The U.S. on Thursday shot down a Turkish drone that had come in too close to U.S. troops on the ground in Hasakah, Syria, a U.S. official told The Associated Press. The official said the drone had been flying in an “unsafe” and “unsychronized” manner. Typically, the U.S. and Turkish militaries, which are NATO allies, work in close coordination in conducting air maneuvers. The official spoke on condition of anonymity to discuss the incident before an announcement.The U.S. has about 900 troops in Syria conducting missions to counter Islamic State group militants.Tara Copp, The Associated Press

Joel Embiid picks USA Basketball, AP source says, and plans to play in Paris Olympics

Published Tue, 25 Feb 2025 08:17:55 GMT

Joel Embiid will wear red, white and blue in Paris next summer — not rouge, blanc and bleu.The NBA’s reigning MVP and scoring champion has told USA Basketball that, after more than a year of deliberating, he has picked the Americans over France as his team for the Paris Olympics, according to a person with knowledge of the decision.The Philadelphia 76ers’ star let USA Basketball managing director Grant Hill know his mind was made up on Thursday, said the person, who spoke on condition of anonymity because Embiid has not yet revealed his choice publicly. Embiid is scheduled to speak at 76ers’ camp in Fort Collins, Colorado, later Thursday.ESPN first reported Embiid’s decision.USA Basketball does not plan to name its team until the spring of 2024, but if healthy, Embiid would seem certain to have one of the 12 spots on the squad that will be coached by Golden State’s Steve Kerr with assistants Erik Spoelstra of Miami, Tyronn Lue of the Los Angeles Clipper...

Police identify 2 suspects in shooting that claimed life of baby delivered after mother shot on bus

Published Tue, 25 Feb 2025 08:17:55 GMT

BOSTON (AP) — Two men will face murder charges after a pregnant woman hit by gunfire on a bus in Holyoke, Massachusetts, delivered a baby that later died, authorities said Thursday.Alejandro Ramos, 22, of Holyoke, is scheduled to be arraigned in Holyoke District Court on Thursday for his alleged involvement in Wednesday’s shooting, investigators said. He will be charged with murder, and other charges are expected to follow.An official at the Hampden District Attorney’s Office said it was unclear if Ramos had been appointed an attorney yet.A second suspect — Johnluis Sanchez, 30, of Holyoke — remains hospitalized. Sanchez will be formally arraigned on a charge of murder when his condition allows, with additional charges also expected to follow.A man who answered the phone at a number associated with a possible relative of Sanchez told the Associated Press on Thursday: “All that is misinformation. I’ll have my attorney reach out to you.”Police are looking for a third suspe...

$7M worth of drugs seized, 150 charges laid in months-long drug probe

Published Tue, 25 Feb 2025 08:17:55 GMT

Thirty-nine people are facing more than 150 charges after a months-long drug probe resulted in the seizure of more than $7 million worth of drugs across the GTA.Police in York Region say they opened an investigation in April 2023 after receiving reports about a woman trafficking drugs in Newmarket. The investigation uncovered a much larger network of traffickers dealing in large quantities of fentanyl, cocaine and methamphetamine.A total of 23 search warrants were executed at locations in Newmarket, Vaughan, Mississauga, Ajax and Toronto with more than 11 kilos of crystal methamphetamine, more than six kilos of cocaine, and more than two kilos of fentanyl, which police say could have been processed into 27 kilos of street fentanyl.The total value of the drugs seized is estimated at more than $7 million.As many as 39 people are facing 156 criminal charges ranging from possession to trafficking, while arrest warrants have been issued for five others for a variety of drug-related charg...

Former Northwestern coach Pat Fitzgerald sues university for $130 million

Published Tue, 25 Feb 2025 08:17:55 GMT

CHICAGO — Attorneys for former Northwestern University football coach Pat Fitzgerald have filed a multi-million dollar lawsuit against the school after his firing in July.The lawsuit, which was announced at Winston & Strawn LLP in downtown Chicago Thursday morning, claims that he was wrongfully and "illegally" terminated as head coach and will seek economic damages of $130 million.Attorney Dan Webb, representing Fitzgerald, said the amount of money is for what was left on his contract at Northwestern and the fact that the coach can never work again at this level. He also said that they will seek punitive damage as well.During his news conference, Webb also believes that the hazing allegations were "exaggerated" and that the anonymous whistleblower had a grudge against Fitzgerald.The former coach was not in attendance at the news conference at Winston & Strawn LLP. Pat Fitzgerald will work with another football team this fall Fitzgerald was fired after an investigation into...

Charges pending in fatal stabbing of 16-year-old girl in Loop

Published Tue, 25 Feb 2025 08:17:55 GMT

CHICAGO — Charges are pending in the fatal stabbing of a 16-year-old girl in the Loop.According to Chicago police, the stabbing happened on the 0-100 block of West Van Buren Street just before 11:30 p.m. Tuesday.Police said Taylor was in a physical altercation with another woman, who then took out a knife and stabbed Taylor twice in the chest — then fled the scene.Heaven Taylor, 16 (Family photo)Taylor was transported to Northwestern Memorial Hospital in critical condition, where she was pronounced dead a short time later.  16-year-old girl stabbed to death following altercation in Loop According to police, charges are pending.Editor's Note: Chicago police had announced charges in the fatal stabbing of Heaven Taylor early Thursday, but later retracted the information and said it was "disseminated in error."