Housing market chills as mortgage rates, prices scare buyers | Ap | thederrick.com

2022-07-21 19:45:44 By : Ms. Joshua Hong

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Partly cloudy skies this evening will give way to occasional showers overnight. Low 66F. Winds WSW at 10 to 15 mph. Chance of rain 40%..

Partly cloudy skies this evening will give way to occasional showers overnight. Low 66F. Winds WSW at 10 to 15 mph. Chance of rain 40%.

Kyle Tomcak sits in front of his house in Aurora, Colo., on Monday, July 18, 2022. Tomcak was in the market for a home priced around $450,000 for his in-laws and he and his wife bid on every house they toured, regardless of whether they fell in love with the home. He said his search became increasingly dispiriting as he not only lost out to investors fronting cash offers $100,000 over asking price but as mortgage rates started to balloon. He has since pulled out of the housing search.

Kyle Tomcak works in his home office in Aurora, Colo., on Monday, July 18, 2022. Tomcak was in the market for a home priced around $450,000 for his in-laws and he and his wife bid on every house they toured, regardless of whether they fell in love with the home. He said his search became increasingly dispiriting as he not only lost out to investors fronting cash offers $100,000 over asking price but as mortgage rates started to balloon. He has since pulled out of the housing search.

Kyle Tomcak plays with one of his dogs in the backyard of his house in Aurora, Colo., on Monday, July 18, 2022. Tomcak was in the market for a home priced around $450,000 for his in-laws and he and his wife bid on every house they toured, regardless of whether they fell in love with the home. He said his search became increasingly dispiriting as he not only lost out to investors fronting cash offers $100,000 over asking price but as mortgage rates started to balloon. He has since pulled out of the housing search.

Kyle Tomcak sits in front of his house in Aurora, Colo., on Monday, July 18, 2022. Tomcak was in the market for a home priced around $450,000 for his in-laws and he and his wife bid on every house they toured, regardless of whether they fell in love with the home. He said his search became increasingly dispiriting as he not only lost out to investors fronting cash offers $100,000 over asking price but as mortgage rates started to balloon. He has since pulled out of the housing search.

Kyle Tomcak works in his home office in Aurora, Colo., on Monday, July 18, 2022. Tomcak was in the market for a home priced around $450,000 for his in-laws and he and his wife bid on every house they toured, regardless of whether they fell in love with the home. He said his search became increasingly dispiriting as he not only lost out to investors fronting cash offers $100,000 over asking price but as mortgage rates started to balloon. He has since pulled out of the housing search.

Kyle Tomcak plays with one of his dogs in the backyard of his house in Aurora, Colo., on Monday, July 18, 2022. Tomcak was in the market for a home priced around $450,000 for his in-laws and he and his wife bid on every house they toured, regardless of whether they fell in love with the home. He said his search became increasingly dispiriting as he not only lost out to investors fronting cash offers $100,000 over asking price but as mortgage rates started to balloon. He has since pulled out of the housing search.

NEW YORK (AP) — It’s the summer that cooled off the housing market.

Rising mortgage rates have combined with already high home prices to discourage would-be buyers. Mortgage applications have declined sharply. Sales of previously occupied homes have fallen for five straight months, during what is generally the busiest time of year in real estate.

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An appeals court has revived a federal lawsuit accusing the state of West Virginia of failing to protect children and fix its overwhelmed foster care system. The 4th U.S. Circuit Court of Appeals on Wednesday sent the lawsuit back to U.S. District Court in Charleston. The lawsuit seeking class-action status was filed in October 2019 on behalf of a dozen children against Gov. Jim Justice, the state Department of Health and Human Resources and other state officials. A federal judge last year agreed that the state court system should have jurisdiction over child welfare cases. But the appeals court found no reason to dismiss the case.

Jurors have heard closing arguments in the only trial to arise so far from the Flint water crisis. It's a dispute over whether two engineering firms should be held partially responsible for Flint's lead contamination in 2014-15. Attorneys for four Flint children claim Veolia North America and Lockwood, Andrews & Newman didn’t do enough to get Flint to treat the highly corrosive water or to urge a return to a regional water supplier. The engineering firms performed work for Flint. They were not part of a $626 million settlement involving Flint residents, the state of Michigan and other parties. Monday will be the first full day of jury deliberations in federal court in Ann Arbor, Michigan.

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ATLANTA — SEC Media Days 2022 closed with a bang Thursday. How could anything that ends with Jimbo Fisher talking not?

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Jordan Peele politely but firmly said nope to a fan who suggested he might be the best horror director in the history of the genre.

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Threats against election officials in the U.S. have risen to such a level that those attending a conference this week in Wisconsin were not given the agenda until after they arrived, were warned not to wear their name tags in public and were shuttled to an undisclosed location for trivia night. It's not just gatherings of election officials. Threats and the potential for violence have led to much tighter security at gatherings of public officials this summer. That includes the meeting of the National Governors Association in Maine, where security was the highest in the state in decades.

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FGFTRebNEW YORKMinM-AM-AO-TAPFPTSAllen22:253-70-01-6037Howard32:527-122-22-101317Dolson26:512-42-20-1326Dangerfield20:462-41-20-1516Ionescu31:336-142-20-84315Johannes23:474-92-20-12212Whitcomb20:261-40-00-0213Han11:111-60-01-3003Willoughby6:150-10-00-2030Richards3:540-10-00-0010Totals200:002…

President Joe Biden is reporting a runny nose, fatigue and an occasional dry cough from his COVID-19 infection. Biden tested positive on Thursday at the White House. He has begun taking an antiviral pill that has been shown to reduce the chances of severe disease. His infection was detected first with an antigen test, the same type that many Americans use at home. It was then confirmed with a PCR test. Biden’s symptoms started Wednesday evening. The president is fully vaccinated and twice boosted. The White House says the president will work in isolation until he tests negative.

Israel’s prime minister says he's sending a delegation to Moscow in hopes of halting a Russian order to shutter the operations of a major nonprofit organization that promotes Jewish immigration to Israel. Yair Lapid’s decision came after Russian officials were quoted as saying they aim to “shut down” the Russian branch of the Jewish Agency. A court hearing in the case is scheduled for July 28. The Jewish Agency is a nonprofit that works closely with the Israeli government to bring Jewish immigrants from around the world to Israel. It wasn't immediately clear why Russia has decided to target the nonprofit. The Jewish Agency has operated in Russia since the collapse of the Soviet Union.

Former South Carolina quarterback Phil Petty, who led Lou Holtz’s teams to consecutive Outback Bowl wins, has died. He was 43. The school announced Petty's death. No cause of death was given. Petty was a three-year starter under Holtz from 1999-2001. After the Gamecocks went 0-11 in Holtz's debut season, Petty helped the team go 17-7 the next two seasons with consecutive victories in the Outback Bowl.

Threats against election officials in the U.S. have risen to such a level that those attending a conference this week in Wisconsin were not given the agenda until after they arrived, were warned not to wear their name tags in public and were shuttled to an undisclosed location for trivia night. It's not just gatherings of election officials. Threats and the potential for violence have led to much tighter security at gatherings of public officials this summer. That includes the meeting of the National Governors Association in Maine, where security was the highest in the state in decades.

Back when former President Donald Trump came down with COVID-19 in October 2020, the world was a lot different than today, when the White House announced President Joe Biden had contracted the illness.

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