Category: Business News

Mortgage rate buydowns are on the rise as homebuyers can cope with high interest rates

Anna Raymond was ready to make the switch from renting to owning a home last spring. But after five failed offers, she and her husband decided to take a step back from house hunting.

Then, in December, their real estate agent presented an offer too good to pass. A home in Longmont was up for sale, and the seller was willing to offer a 2-1 interest buydown rate.

The concession would lower the Raymonds’ 5.75% contract interest rate of 2% in the first year and 1% in the second year, so they’ll pay just 3.75% interest in the first year

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Tesla video promoting self-driving was staged, engineer testifies

A 2016 video that Tesla used to promote its self-driving technology was staged to show capabilities like stopping at a red light and accelerating at a green light that the system did not have, according to testimony by a senior engineer.

The video, which remains archived on Tesla’s website, was released in October 2016 and promoted on Twitter by Chief Executive Elon Musk as evidence that “Tesla drives itself.”

But the Model X was not driving itself with technology Tesla had deployed, Ashok Elluswamy, director of Autopilot software at Tesla, said in the transcript of a July deposition taken as

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Lawyers spar over whether Elon Musk misled investors with his tweets

Opening arguments kicked off Wednesday in a trial that was pitting Tesla against shareholders accusing the company of misleading them over a tweet by Elon Musk stating funding had been “secured” to take the electric car company private.

A lawyer for Tesla investors told a nine-person jury that Musk “lied” when he sent the Aug. 7, 2018 tweet, costing investors money while its share price fluctuated as Wall Street digested the information. Ultimately, the company remained publicly traded.

“Millions of dollars were lost when his lies were exposed,” said attorney Nicholas Porritt, who represents the investors.

A lawyer for Musk

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Priciest home sales in Setauket

Priciest home sales in Setauket (11733)

December 2022

The three highest-priced home sales in Setauket last month ranged from $1.1 million to $3.775 million.

The priciest Setauket home sold in December was a 5-bedroom, 3.55-bath waterfront colonial on 15 acres at 76 Mount Gray Road that sold for $3.775 million in cash. It was listed by Debra Russell, Michael O’Dwyer and Holly Brainard of Daniel Gale Sotheby’s International Realty and sold by Sharon Levine of Coach Realtors.

A 6-bedroom, 4-bath waterfront ranch on 1.74 acres at 92 Dyke Road fetched $2.15 million in cash. It was listed by Lisa Jaeger

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Why your grocery bills remain high even as inflation slows down

FP Explains: Why are Canadians’ grocery bills still climbing? It’s complicated

Published January 19, 2023 • 5 minute read

10 Comments

Inflation in food retail prices has stayed stubbornly high, hovering around 11 per cent for the last four months.
Inflation in food retail prices has stayed stubbornly high, hovering around 11 per cent for the last four months. Photo by Stefani Reynolds/AFP via Getty Images

Canada’s inflation fever might have broken in December. The consumer price

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Do You Worry About Your Parents’ Health?

Many of our clients worry about their parents. Sometimes, they are concerned for their aging parents in regards to their healthcare.

We can help you stay on top of the latest news that affects your everyday life. Subscribe to stay up to date. (To subscribe to our blog ).

We often recommend that concerned clients have a discussion with their parents to make sure that they have all the right documents in place, to protect their wishes.

One incredibly important document that your parents should have in place is a Medical Durable Power of Attorney.

What is a

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Worldwide Journal Of Science, Engineering And Knowledge Technology

NIST and its FDA collaborators superior a method to make use of Wi-Fi to sense when someone’s breathing sample adjustments, indicating they’re in bother. NIST’s portfolio of companies for measurements, standards, and authorized metrology provide solutions that ensure measurement traceability, allow quality assurance, and harmonize documentary standards and regulatory practices. The Academic Ranking of World Universities launched their global ranking of academic subjects this week. Swinburne has achieved global rankings in 20 topics in 2022, up from 17 in 2021.

Future-proof your software portfolio with proactive innovation that pays for itself. Wherever your corporation goes, whoever it actually works with, …

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Relief for homebuyers in 2023? Mortgage rates at lowest levels since September

A dip in mortgage interest rates is spurring demand from homebuyers, according to a new report from the Mortgage Bankers Association, or MBA.

Mortgage applications last week jumped 28% from the week prior, according to seasonally adjusted data. The MBA’s refinance index also spiked 34% from the previous week.

“As we enter the beginning of the spring buying season, lower mortgage rates and more homes on the market will help affordability for first-time homebuyers,” MBA chief economist and senior vice president Mike Fratantoni said in a Wednesday statement.

The report noted that mortgage rates are at their lowest level since

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