After faltering last week, mortgage interest rates resumed the upward path they've been on since late September. The week ending Nov. 21, the average rate on the 30-year fixed-rate mortgage climbed nine basis points to 6.88%, according to rates provided to NerdWallet by Zillow. A basis point is one-one hundredth of a percentage point. Mortgage rates making even the smallest stumble brings more buyers and refinancers into the market. When there's an actual rate drop, the market can quickly heat up — a phenomenon perfectly illustrated by October's existing home sales figures, which the National Association of Realtors released this morning. Usually a slow month for the housing market, this October saw sales of existing homes (everything but new construction) rise 3.4% month over month, according to the NAR. The bigger news was that sales increased 2.9% year over year, the first year-over-year increase since July 2021. Why were so many homes bought during spooky season? Well, it's important to remember that home sales aren't fast . Setting aside time spent on the home search, there's a considerable lag between when a buyer's offer is accepted and when the sale actually goes through. (Unless you're a cash buyer, but we'll stick to financed buyers here.) In October, home sales took a median 30 days to close, per the NAR Realtors Confidence Index. That means buyers who were getting the keys to their new homes in October were likely making offers, applying for mortgages and, most significantly for our purposes, locking their interest rates, in September. That month, the average interest rate for a 30-year, fixed rate loan was just 6.07%. Rates had topped 7% as recently as May, so it's unsurprising that buyers would see opportunity. Unfortunately, it looks like September may have been the low point for mortgage interest rates this year. Even as the Federal Reserve has transitioned into a rate-cutting phase, mortgage rates have stubbornly risen. Any good news has been tepid: At least rates aren't spiking anymore. Forecasters appear to be recalibrating their expectations, which had been for rates dropping to around 6% at year end and falling into the high fives next year. For example, this week Fannie Mae's Economic and Strategic Research Group adjusted its forecast upward. If you're trying to imagine how much rates might fall this winter, picture a dusting of snow, not a blizzard. More From NerdWallet Kate Wood writes for NerdWallet. Email: kwood@nerdwallet.com . The article Weekly Mortgage Rates Rise as Buyers Await a Drop originally appeared on NerdWallet. Get any of our free email newsletters — news headlines, sports, arts & entertainment, state legislature, CFD news, and more.
Despite a roster overhaul and a general lack of Division I experience among the squad, the Colorado men’s basketball team has shown significant signs of progress since tipping off the season seven weeks ago. It’s been a home-heavy slate so far, too. Yet few people have witnessed the Buffaloes’ early growth in person. After the Buffs capped nonconference play with a win against Bellarmine on Saturday, head coach Tad Boyle pivoted from a question about a boisterous crowd spurred by an Alamo Bowl sendoff for CU football and an appearance by Travis Hunter’s Heisman Trophy to comment on the state of the program’s attendance through nonconference play. Simply put, there have been plenty of available seats at the CU Events Center. And at the dawn of the NIL era in college basketball, it’s a concern on the forefront of Boyle’s mind. “Quite frankly, I think the core of our fan base for the basketball program has been very loyal and good. But if people think that the nonconference attendance is going to allow us to be successful in the Big 12 as we move forward, unless it changes, they’re sorely mistaken. We’ve got to fill this thing up. Starting December 30th,” Boyle said after the Bellarmine win. “(Bellarmine) was a step in the right direction. (Saturday) was a great day to honor the football team and Travis and Shedeur. Had no problem with that at all.” Boosted by the festivities surrounding the football team, the attendance of 7,684 against Bellarmine was the second-highest of the season at the Events Center. Through eight home games, the Buffs are averaging just 6,435 fans. That’s currently on pace to mark the lowest average attendance of the 15-season Boyle era, although attendance figures are certain to climb with the marquee matchups on the way in Big 12 play, beginning with CU’s league opener against No. 3 Iowa State on Monday (7 p.m., CBS Sports Network). The Buffs host four other teams ranked in this week’s AP Top 25 in No. 7 Kansas (Feb. 24), No. 15 Houston (Feb. 8), No. 17 Cincinnati (Jan. 15) and No. 25 Baylor (Feb. 22). In the five top 25 games played at the Events Center since the mostly fan-less COVID season of 2020-21, attendance has averaged 9,554. The Buffs host two other teams currently receiving top 25 votes in West Virginia (Jan. 12) and Arizona State (Jan. 28), and CU hosts another big-draw matchup with BYU on Jan. 21. The attendance of 8,913 for BYU’s previous visit on Dec. 12, 2015, hasn’t been topped in a non-Colorado State nonconference home game since. Yet while attendance certainly will rise in January and February, the early returns have continued a recent box office trend for the Buffs. Following the COVID season, the Buffs averaged 7,141 fans in the 2021-22 regular season, at the time the lowest since an average of 6,900 in Boyle’s first season of 2010-11. CU then averaged a Boyle-era low 6,752 in 2022-23. Last year’s NCAA Tournament team pushed that average attendance figure back up to 7,531, but even the home win against CSU three weeks ago drew only 9,143 fans. That’s over 1,900 under capacity at the Events Center and nearly 900 fewer than the attendance for CSU’s previous visit two years ago. “I would like to see this place sold out every night,” Boyle said. “Like it is in Ames, Iowa. Like it is in Lawrence, Kansas. Like it is in Waco, Texas, and all the places that we’re going to play. If it is, it is. If it isn’t, it isn’t. There’s nothing I can do about it. My job is to get our team better.”
As Ghana approaches its crucial December 7, 2024, general elections, Dr. Mahamudu Bawumia, the presidential candidate for the ruling New Patriotic Party (NPP), has called on voters to reflect on who is best suited to lead the country into the future. Addressing a large crowd at the NPP’s final campaign rally, Bawumia posed a series of questions aimed at distinguishing himself from his rival, former President John Mahama. He asked, “Who can better unite this country? Who can bring innovative ideas to propel Ghana into the Fourth Industrial Revolution? Who has the integrity to fight corruption? Who can continue the Free Senior High School initiative?” Bawumia, who has positioned himself as the candidate of progress, emphasized his vision of a united Ghana driven by innovation and compassion for the vulnerable. He portrayed Mahama as a figure of the past, urging voters to look to the future. With nearly 18.8 million registered voters, Ghana’s election is seen as a pivotal moment for the nation, known for its stable democratic transitions. President Akufo-Addo, who has reached his constitutional term limits, is ineligible for re-election, marking the first presidential election in two decades without his candidacy. As the country heads to the polls, both local and international observers will be watching closely for a peaceful and transparent election.Punjab FC head coach Panagiotis Dilmperis showered praise on his players as they secured a clinical 2-0 victory against Mohammedan Sporting Club in the Indian Super League (ISL) at the Jawaharlal Nehru Stadium in New Delhi on Friday. Luka Majcen and Filip Mrzljak's second-half goals powered the Shers to register their sixth victory in the ongoing season as they climbed to the third spot in the standings, making it 18 points from nine matches. With that, also Punjab FC managed to keep two back-to-back clean sheets for the first time in the league this season. Mohammedan is in the second-last spot, having won just one out of 10 matches and lost seven. Dilmperis said that strategic changes in the second half played a pivotal role in changing the dimension of the game, resulting in consecutive wins for the Shers. However, the head coach shared his dissatisfaction with his team's first-half display, where the hosts struggled to break the deadlock despite creating numerous attacking moves. "Of course, in the first half, our performance was not really good. It was a game that looks like Mohammedan SC did a little bit better than us," he said in the post-match press conference as quoted by an ISL press release. "All these changes that we had to do because of the injured players and issues that we had, we lost our connections. We (had to) make decisions. I think we are happy because finally, we managed to win. In the second half, it was a different half. This is what I said to the players. So I was thinking that they would lose a lot of their freshness in the second half. So we have to be patient. It was the strategy of the game. That is why we held back. Since we scored, we had to manage chances and time," Dilmperis further added. Dilmperis acknowledged Mohammedan SC's offensive strength, bolstered with experienced foreign players. Alexis Gomez's movements and deliveries troubled the hosts, who missed several clear-cut chances, including opportunities through Lalremsanga. Mohammedan SC dominated possession but registered only two shots compared to five by Punjab FC. Speaking about the opposition, he said, "It was obvious that going higher, we tried to press Mohammedan SC. They have some players with huge quality, especially foreign players." "And also, they changed the players at the back four, and they start having better possession. We tried to think; that is why the only change that we did was change the right and left backs and the wingers. We did not possess the ball. Especially when we were winning the ball in the transition game at this time, we were not good. We tried to convince the players that we should play safely," he explained. The Shers are experiencing a flying start in the ongoing ISL season, marking a significant turnaround in their performances in comparison to their debut season. After recording three consecutive wins in their opening fixtures, Dilmperis' men are now in the third spot with six wins from nine matches. Punjab FC have scored 16 goals in the league thus far, 12 of which came in the second half, having a crucial impact on their final result. While quizzed on his team's record to score goals in the final half, the Greek head coach remarked, "I have to trade the secrets. This is my philosophy," he said. "Games are not won in the first half. Second, you don't lose it also in the first half. You have to be patient. You have to follow your plan up to the end of the game," Dilmperis signed off. (ANI) (This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
All eyes will be on the player-availability report when the Los Angeles Clippers play host to the Golden State Warriors on Friday at Inglewood, Calif. While the Clippers are moving closer to the season debut of Kawhi Leonard, the Warriors are pondering a day of rest for Stephen Curry on the first night of a back-to-back that includes a game at home against the Phoenix Suns on Saturday. Leonard has yet to play this season because of a chronic knee issue, but he did return to contact practices before the Clippers departed for a three-game road trip last week. Head coach Tyronn Lue said Leonard needed to participate in full practices before the team would consider the star's return. The Clippers have won three of their last four games to represent another high point in an up-and-down season. One of their most impressive victories occurred Monday, 114-110 on the road against the Memphis Grizzlies. Norman Powell continues to look comfortable in a leading-scorer role with 29 points, while going 4 of 8 from 3-point range. James Harden had 21 points, nine assists and eight rebounds in his do-everything point-guard role. Ivica Zubac controlled the inside with 20 points and 19 rebounds and added four steals. "Everybody's involved," Lue said. "It's not coaches and players. We're all on the same team and that's how we treat each other. It's not this side and that side. We're all together. We win together, we lose together, we make mistakes together. That's who we are." Staying a collective unit has helped the Clippers to excel on defense and that came to the forefront by holding the Grizzlies to 20 points in the fourth quarter. Memphis was well under its NBA-best 122.7 points per game. "To hold them to 110 on their home floor says a lot about what we're doing defensively," Lue said. Curry nearly pulled off an unlikely comeback for the Warriors on Christmas Day when he scored eight points in the final 25.7 seconds and made a pair of 3-pointers in the final 12.9 seconds. But Golden State could not overcome a 109-100 deficit with 1:30 to play despite Curry tying the game on a 3-pointer with 7.6 seconds left. Curry scored 38 points in what head coach Steve Kerr said was a "hard" 36 minutes. Andrew Wiggins scored 21 points with 12 rebounds. Before the game, Curry conducted a players-initiated meeting that stressed the urgency needed in the upcoming portion of the schedule. Even in defeat, the message seemed to be received, with Curry leading by example. "We're right in that window where we can still regain some momentum for the next however many weeks before the (All-Star) break," Curry said. "Or else we're in a situation where we're chasing down the stretch and nobody wants to be there." While Golden State did put forth a winning effort Wednesday, the reality is that the team has dropped five of its last six games. "We had a great vibe early in the season and we're going through it right now, but I love our guys," Kerr said. "High-character guys. They care." This article first appeared on Field Level Media and was syndicated with permission.
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