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Policy and Society

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kcci.com

How the Iran war is raising mortgage costs for US homebuyers

The Federal Reserve decided to keep interest rates unchanged, leaving mortgage rates above 7% and homebuyers facing higher monthly costs. The war in Iran has driven up the cost of buying a home in America, according to experts, as the Federal Reserve held interest rates steady on Wednesday. Just two days before the war began, the average 30-year mortgage rate fell to 5.98%. By Oct. 22, it had climbed to 7.32%, according to Freddie Mac. "The Fed really hasn't been the main character for mortgage rates this year. The Iran war has been a much more significant influence," said Kate Wood, a lending expert at NerdWallet. Wood said the connection is indirect. The war has pushed up energy costs and raised concerns that inflation could remain elevated. "A lot of what we're seeing is actually investor concerns about inflation being translated through the bond market," Wood said. Those concerns…

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dailybreeze.com

Southern California homebuying crashes to 2nd slowest pace on record

Southern California homes are so unaffordable that sales activity crashed to a pace even slower than the real estate-wrecking Great Recession. The homebuying data firm Attom just revised its sales statistics dating back to 2005, using new methods to sort out what, from public records, is a true home sale. These totals include closed transactions for houses and condos, both existing and newly built. My trusty spreadsheet analyzed the newly retooled Southern California numbers through July 2026. Sales are still scraping the bottom, and the few buyers who close are paying near-record-high prices. So, how sluggish are sales across the six counties, based on closed transactions in the 12 months ended in July? – 33% slower than the average homebuying pace seen since 2005. – It’s the second-slowest pace in that period. The slowest was May 2026. – Almost as stunningly: July was 3% slower than…

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Tariffs and Trade

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bbc.co.uk

US sanctions Rwanda's defence ministry over DR Congo conflict

Eastern DR Congo has been plagued by conflict with M23 recapturing Goma and Bukavu in January 2025 The United States has imposed sanctions on Rwanda's defence ministry over its alleged support for the M23 rebel group in eastern Democratic Republic of Congo (DRC), increasing pressure on Kigali to withdraw its troops and halt support for the rebels. "Rwanda must halt its support for M23 and withdraw its troops from eastern DRC," US Treasury Secretary Scott Bessent. The sanctions come months after Rwanda and DR Congo signed a US-brokered peace agreement aimed at ending the conflict. Fighting has continued in eastern DR Congo since January 2025, when M23 seized the cities of Goma and Bukavu. Rwanda denies backing M23. The US Treasury says Rwanda's defense ministry directed thousands of troops to fight alongside M23 in eastern DR Congo, providing weapons, equipment, logistics and training.…

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Technology and Tools

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kake.com

Workers are getting a shrinking slice of America’s economic pie

People walk through Grand Central Terminal on February 19, 2026, in New York City. (CNN) — The US economy continues to grow at a relatively healthy pace, but American workers aren’t fully reaping the financial rewards. In fact, American workers’ piece of the economic pie is shrinking. By one official measure, their slice is the smallest in almost 80 years. The labor share of income, which is the amount of economic output paid to workers as compensation, fell to 52.8% earlier this year, Bureau of Labor Statistics data shows. That’s the lowest-ever level, according to BLS records that go back to 1947. “It’s really telling you that workers have less and less power in this technology age and certainly in the AI age,” said Heather Long, chief economist at Navy Federal Credit Union. “The rewards, the financial gains, are mainly going to shareholders, to the owners of the capital and less and…

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fintechnews.hk

Hong Kong Fintech Week

Taking place each year in Hong Kong and Shenzhen, Hong Kong Fintech Week is an annual cross-boundary fintech event and one of the largest conferences on the calendar. Each year, the event attracts more than 30,000 senior…

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