INDIANAPOLIS (WISH) — Fewer people are looking to buy a home.
Mortgage demand fell last week to nearly half of what it was a year ago, according to the Mortgage Bankers Association.
Demand for mortgages is at its lowest level since 1997. Mortgage applications are down 42% from this time last year. New home sales fell 11% in September. With 30-year fixed rates now at their highest level in 21 years, well above 7%, it’s a tough time right now to even consider jumping into this pricey housing market.
Alphabet shares falling
Shares of Alphabet, Google’s parent company, fell 6% today after dismal third-quarter earnings.
The company reported its weakest quarter of growth since 2013.
Google is trying to figure out how to navigate a major pullback in online ad spending. One analyst says “Google is an ad business first, and digital ads is no longer a safe place to hide.”
Inflation of Halloween candy
Halloween candy will cost you a lot more this year.
Prices have soared the most since 1999. 14% higher than last year, according to a firm that tracks candy prices.
This year could feel more a like a trick than a treat.
iPhone getting new charging cord
A senior Apple executive says based on a new rule adopted in Europe the iPhone will soon lose the lighting port and will be replaced with the ubiquitous USB-C charging port.
The European Parliament recently approved a law requiring a uniform charging port for all smartphones and laptops.
Apple says they basically have to do it, but the lighting cable has existed for 10 years.