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As mortgage rates soar over 7%, an unaffordable housing market is becoming even more expensive

Published Wed, 26 Feb 2025 17:53:56 GMT

Washington, DC (CNN) — An already miserably unaffordable housing market is getting more expensive. As mortgage rates top 7% — the highest they’ve been in 21 years according to Freddie Mac — home buyers face ballooning costs. Some housing experts are warning that rates could keep climbing toward 8%.What does this mean for house hunters? Even ever-optimistic real estate pros say buyers and sellers must adjust their expectations.“I don’t like to be ‘doom and gloom,’ this is my book of business,” said Bess Freedman, CEO of Brown Harris Stevens, a national real estate firm. “I still say real estate is the best long-term investment. But there has been a shift. It is flawed for people to assume that just because inflation has started to move in the right direction, that mortgage rates will go down, too.” Despite recent reports that inflation is cooling, it’s still too high and the economy too hot — and for the housing market, that’s not good, said Freedman.“The fact that we are seei...

Spain wins Women’s World Cup for the first time, deservedly beating England in Sydney

Published Wed, 26 Feb 2025 17:53:56 GMT

(CNN) — History has been made. Against the odds and amid a backdrop of turmoil, Spain reached the pinnacle in Sydney on Sunday, deservedly beating England 1-0 to win the Women’s World Cup for the first time.That Spain had progressed to the final, given the tumultuous year the national team had experienced, was remarkable. That La Roja triumphed against the reigning European champion and pre-match favorite in spite of the disputes and divisions which has clouded the national team throughout the tournament makes this achievement extraordinary.Olga Carmona’s wonderful 29th-minute strike proved to be the winner. Spain could even afford to miss a second-half penalty as La Roja became only the second country, after Germany, to win both the men’s and women’s World Cups.As Spain’s players celebrated by forming a joyful heap of red on the Stadium Australia pitch, many of England’s players were in tears as hopes of becoming the country’s first senior soccer world cham...

WATCH LIVE: Hilary treks north toward San Diego

Published Wed, 26 Feb 2025 17:53:56 GMT

SAN DIEGO -- Hilary's trek north toward San Diego continues Sunday morning with rain now overspreading Southern California. The National Weather Service says the forecasts for heavy rain and "catastrophic flooding" remains unchanged. MORE: Tracking Hilary California Gov. Gavin Newsom proclaimed a state of emergency Saturday evening, and San Diego County officials also proclaimed a local emergency shortly after.As for the center of the storm, it's expected to hit San Diego sometime between 3 p.m. and 6 p.m. Sunday. That's according to Chris Heiser, the executive director for the City of San Diego Office of Emergency.“This is a large storm with a huge footprint and unlike what we usually see in San Diego,” Heiser said during a news conference.Alex Tardy with NWS says the winds are expected to pick up as the center of Hilary gets closer Sunday afternoon.FOX 5 will be providing real-time updates (below) as Hilary makes her way to the region.Blog: Real-time updates on Hilary1:36 ...

Firefighters take stock of N.W.T. fires as cooler, wet weather expected to end

Published Wed, 26 Feb 2025 17:53:56 GMT

YELLOWKNIFE — Firefighters trying to keep wildfires at bay from the city of Yellowknife were planning to take stock of the situation this morning after cooler, damp weather gave them a break Saturday.Crews were to scan the fires with infrared sensors to better understand the condition of the fires and judge whether an attack on them would be safe and successful. The break that firefighters defending the capital of the Northwest Territories got from about four millimetres of rain is expected to end today, as temperatures are forecast to climb above 20 C.Wildfire information officer Mike Westwick told a news conference Saturday night that the “fire’s taken a nap” and it’s “going to wake up” as temperatures rise.The blaze, which prompted the evacuation of almost all 20,000 residents Yellowknife, remained about 15 kilometres from the community yesterday.Environment and Climate Change Minister Shane Thompson says that over the last week, 68 per cent of...

B.C. wildfires: no new evacuations overnight as grim battle goes on

Published Wed, 26 Feb 2025 17:53:56 GMT

British Columbia’s desperate battle against hundreds of wildfires continues on multiple fronts Sunday, but no new evacuation orders have been added overnight to the thousands already in place across the province.B.C. Premier David Eby said Saturday the situation was “grim” as he announced an emergency travel ban to fire zones to free up accommodation for 30,000 or more evacuees across the province, as well as fire crews.The last new evacuation order was issued at 1:33 p.m. Saturday for residents of the tiny lakeside community of Sorrento on Highway 1, due to the Lower East Adams Lake fire complex which has caused extensive regional destruction in the Columbia Shuswap in the southern Interior.In the central Okanagan to the south, ground zero for a massive fight against blazes on both sides of Lake Okanagan, no new orders have been issued since 9:18 p.m. Friday.Hundreds of firefighters there are engaged against fires that have been looming over Kelowna and West Kelow...

Official says wildfire on Spain’s popular tourist island of Tenerife was started deliberately

Published Wed, 26 Feb 2025 17:53:56 GMT

SANTA CRUZ DE TENERIFE, Canary Islands (AP) — Canary Islands regional President Fernando Clavijo said Sunday that police have confirmed that a wildfire raging on the Spanish tourist island of Tenerife was started deliberately. Clavijo said police had opened three lines of investigation but did not say if there had been any arrests. Improved weather conditions helped firefighters make advances overnight in their battle to tame the blaze that has raged out of control for the past five days, authorities said Sunday.“The night was very difficult but thanks to the work of the firefighters, the results have been very positive,” Tenerife governor Rosa Dávila said at a news conference.The Canary Islands have been in drought for most of the past few years, just like most of mainland Spain. The islands have recorded below-average rainfall in recent years because of changing weather patterns impacted by climate change.Although the blaze in the northeast of the island is not near the main touri...

One in custody following attack at Christie Subway Station

Published Wed, 26 Feb 2025 17:53:56 GMT

One person is in custody after an attack at Christie Subway Station on Saturday night.At approximately 7:01 p.m. police received reports of a violent person inside the subway station.The person allegedly attacked TTC staff and caused a large crowd gathering outside the station doors.Injuries are unknown and travellers were asked to stay outside for their own safety.A male left the subway station and police located him near Christie Pitts taking him into custody.VIOLENT BEHAVIOUR:Christie Subway Stn7:01 p.m.– Reports of a violent person inside the Christie Subway Station who attacked TTC Staff– Unknown injuries– Large crowd gathering outside the Station doors; they are being asked to stay outside for their own safety#GO1937529^lb— Toronto Police Operations (@TPSOperations) August 19, 2023

Woman pronounced dead at scene of single vehicle crash in Brampton

Published Wed, 26 Feb 2025 17:53:56 GMT

A woman in her 20’s has been pronounced dead at the scene of a single vehicle crash in Brampton on Sunday morning.Police received a call at approximately 1:35 a.m. about a single vehicle crash into a pole in the Steeles and Finch Avenues area of Brampton.FATAL COLLISION:– Steeles & Finch Ave #Brampton – Single vehicle into a pole – Driver pronounced on scene– Heavy police presence – Please avoid the area – C/R @ 1:35 am– PR23-0269070— Peel Regional Police (@PeelPolice) August 20, 2023The driver of the vehicle, a woman in her 20’s, was pronounced dead at the scene.Roads in the area have re-opened after being blocked due to a heavy police presence.

Lana Payne’s year of action: Unifor’s president on workers’ window of opportunity

Published Wed, 26 Feb 2025 17:53:56 GMT

TORONTO — One year to the day of her election as national president of Unifor, Lana Payne had strong words for leaders at General Motors, Ford and Stellantis.As the union kicked off bargaining with the trio of major automakers known as the Detroit Three, Payne made it clear that workers’ expectations have climbed alongside the cost of living. “This is the moment we are in,” she told reporters and union members, just hours after shaking hands with representatives from each automaker to signal the start of negotiations.“And no one — no one — should underestimate it.”The last few years have led to this critical moment. After the COVID-19 pandemic, breakneck inflation, rising corporate profits and a staggering succession of interest rate hikes, Unifor, like other unions, is under intense pressure to deliver more for workers: more pay, more benefits, more stability.“When you’re the biggest private-sector union in the country, there are big expectations for what you’re a...

NFL tight end Jimmy Graham hospitalized after 'medical episode,' being stopped by police

Published Wed, 26 Feb 2025 17:53:56 GMT

NEW ORLEANS (WGNO/WVLA/KTLA) — New Orleans Saints tight end Jimmy Graham has been released from a Los Angeles hospital after suffering a medical incident and being arrested. Graham, in Southern California ahead of the Saints' preseason matchup against the Los Angeles Chargers, was taken into custody Friday night, according to a statement from his team. The 36-year-old was originally arrested on suspicion of being under the influence of a controlled substance after police received calls of a person acting erratically and wandering in the street, according to a report from TMZ. Video obtained by the outlet appeared to show the tight end fleeing from security before being taken into custody. NFL player released from hospital after serious injury ends preseason game In a statement released Saturday, the Saints said Graham "experienced a medical episode" that "resulted in him becoming disoriented."After being taken into custody, Graham was transported to a local hospital for evaluation...