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Sky-high mortgage rates leave homes unaffordable for more buyers, sending new home sales tumbling

Published Wed, 26 Feb 2025 01:54:22 GMT

LOS ANGELES (AP) — Sales of new U.S. homes hit a 5-month low last month as sky-high mortgage rates continue to strain prospective homebuyers’ ability to afford a dwelling.The pace slowed 8.7% in August from the previous month to a seasonally adjusted annual rate of 675,000 properties, the Department of Commerce reported this week. Economists polled by FactSet had expected the annual pace to reach 700,000 homes.“Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction, but with mortgage rates elevated and home prices high, affordability is a growing concern for homebuyers,” said Lisa Sturtevant, chief economist at Bright MLS.Mortgage rates are near a 23-year high, forcing many would-be buyers to the sidelines. The average rate on a 30-year mortgage moved above 7% in August for the first time since November and has stayed above that threshold since then, according to mortgage buyer Fredd...

SUPREME COURT NOTEBOOK: From bananas to baby socks, lawyers stick to routines before arguments

Published Wed, 26 Feb 2025 01:54:22 GMT

WASHINGTON (AP) — The Biden administration’s top Supreme Court lawyer eats a bunch of bananas. Other advocates play music to psych themselves up. Some rub the feet on John Marshall’s statue a floor below the courtroom.The Supreme Court, which begins its new term on Monday, is awash in ritual. So it’s no surprise that the lawyers have a few regular, if occasionally eccentric, observances of their own.Arguing at the court can be both intimate and intimidating. Lawyers stand at a lectern that’s surprisingly close to the bench. They can spend an hour or more responding to questions from the nine justices.Advocates have many ways of getting ready, and some who have argued many cases have developed their own routines or lucky charms that they employ for a variety of reasons — out of a sense of comfort or, perhaps, because their first argument went well and no one likes to mess with a good thing.Before each of his 50 Supreme Court arguments, Neal Katyal talked to his thre...

Uruguay still targeting two wins at the Rugby World Cup. Namibia is ticked. Next: New Zealand

Published Wed, 26 Feb 2025 01:54:22 GMT

AVIGNON, France (AP) — Uruguay came to the Rugby World Cup to win two games for the first time.Namibia was knocked off on Wednesday. Uruguay has one more chance in the pool stage: New Zealand next Thursday.The first meeting between Los Teros and the All Blacks will be staged in Lyon.The odds for Uruguay are astronomical but that hasn’t dimmed its excitement or anticipation.“A lot of expectation,” Uruguay flyhalf Felipe Etcheverry says. “We have to prepare with a lot of focus. We have to win. It’s the perfect situation (to face the haka). I am dreaming of this moment.”Aside from Namibia, Los Teros really targeted Italy in Pool A, and put months of planning into taking down the Six Nations wooden-spooner. They made a great start and led 17-7 at halftime. But at the start of the second half, captain Andres Vilaseca was yellow-carded and Italy found another gear to win 38-17.The hangover from that heartbreak, and starting a Rugby World Cup game as the rare favorite, sa...

Jabil: Fiscal Q4 Earnings Snapshot

Published Wed, 26 Feb 2025 01:54:22 GMT

ST PETERSBURG, Fla. (AP) — ST PETERSBURG, Fla. (AP) — Jabil Inc. (JBL) on Thursday reported fiscal fourth-quarter profit of $155 million.On a per-share basis, the St Petersburg, Florida-based company said it had profit of $1.15. Earnings, adjusted for pretax expenses and stock option expense, were $2.45 per share.The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.31 per share.The electronics manufacturer posted revenue of $8.46 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $8.5 billion.For the year, the company reported profit of $818 million, or $6.02 per share. Revenue was reported as $34.7 billion.For the current quarter ending in November, Jabil expects its per-share earnings to range from $2.40 to $2.80. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.15.The company said it expects revenue in the range of $8.4 billi...

7 suspects arrested in burglary investigation near Cheesman Park

Published Wed, 26 Feb 2025 01:54:22 GMT

DENVER (KDVR) — A shelter-in-place has been lifted for a neighborhood near Cheesman Park. Police were attempting to make contact with people wanted in connection to a burglary.The Denver Police Department tweeted about the incident just after 3 a.m. Thursday.Officers said they were attempting to contact suspects about a burglary in the 1300 block of Lafayette Street. The neighborhood sits in the northwest corner of Cheesman Park. Salida community overcome with emotion after Suzanne Morphew found DPD said multiple suspects had already been detained before the shelter-in-place was issued. After the situation was resolved, police said one additional suspect was taken into custody.In all, DPD said seven suspects were taken into custody in connection to a burglary.The shelter-in-place expanded to a two-block radius.

Troopers find 290 pounds of cocaine during traffic stop

Published Wed, 26 Feb 2025 01:54:22 GMT

DENVER (KDVR) — Picture the size of a Denver Broncos linebacker, then add a few more pounds. That's how many pounds of cocaine Colorado State Patrol troopers found during a traffic stop on Interstate 70 on Monday. On Sept. 25 around 3:30 a.m., a trooper working with the Smuggling-Trafficking-Interdiction-Section pulled over a Chrysler minivan for a traffic violation on I-70 near milepost 27.After the trooper became suspicious of criminal activity, they asked to search the vehicle. After the driver declined, CSP obtained a search warrant for the vehicle. Shelter-in-place lifted, several arrested in burglary case In the vehicle were suitcases zipped full of kilos of cocaine, according to CSP.Troopers arrested Tyleke Stokley from North Carolina and Darvin Campbell from Alabama. According to CSP, both were booked on charges of possession with intent to distribute more than 112 grams of cocaine and as a special offender for transporting more than seven grams of cocaine into Colorado.

How to get sold-out CU tickets as prices skyrocket

Published Wed, 26 Feb 2025 01:54:22 GMT

DENVER (KDVR) — For the first time in history, the University of Colorado Buffs have sold all the home game tickets for the season, and it's only September. Not all hope is lost if you couldn't grab a ticket before the Buffs extravaganza began, there are still a few places where you can find tickets.When it comes to sports, there are always places where you can find tickets, it just depends on how much you want to pay. CU Buffs become most popular team in the country based on search traffic While all the tickets are sold out on CU's website, home game tickets are still available on Ticketmaster, Seat Geek, StubHub, Vivid Seats and other similar resell sites. For Saturday's game against the University of Southern California, the ticket prices aren't looking too bad, that is compared to some fans who spent $2,000 for six extra tickets to the Nebraska game.On Ticketmaster, the cheapest seats are in the upper level for $190. If you want to get close to the action, seats near CU's ben...

6 things to do with a leftover pumpkin

Published Wed, 26 Feb 2025 01:54:22 GMT

DENVER (KDVR) — There is so much more you can use your pumpkin for other than fall decor. Here are six ideas for pumpkin-related fun that are more than just setting it on your doorstep after you pick it from the patch.1. Carve itGetting the obvious ones out of the way first, pumpkin carving is one of the most popular activities to do with a pumpkin. Emptying the insides and carving out a silly or spooky face adds a personal touch to your doorstep. Best places to pick pumpkins near Denver 2. Paint itAnother common pumpkin practice, if you want to avoid the mess, is to paint your pumpkin. Martha Stewart recommends using acrylic paint on pumpkins because it dries quicker and it's easier to clean up than oil-based paint.3. Cook itCooking parts of pumpkins is a handy way to reuse them. Try out one of these ideas:Pumpkin pureePumpkin pie Roasted pumpkin seedsPumpkin stockPumpkin butter Pumpkin breadSouthern Living lists 47 pumpkin recipes you can make, most of them include an actual pum...

Boulder St. Vrain Watershed Art Contest invites K-12 students to get creative

Published Wed, 26 Feb 2025 01:54:22 GMT

DENVER (KDVR) — The Boulder St. Vrain Watershed Art Contest invites all kindergarten through 12th-grade students who live in or attend school in Boulder County to participate in an art contest.The Keep it Clean Partnership is hosting the contest. It's free to enter, and participants will have the chance to win art supplies and gift cards. Their art might even be featured on the Keep it Clean Partnership website. Colorado artist unveils sculpture destined for Washington D.C. Not all participants will receive a prize, but it's just as much of a learning opportunity as it is a contest.Educational and creative inspirationCoordinator Cristina Ramirez said the contest serves as an opportunity for students, families and classrooms to explore local waterways for both education and creative inspiration."In our shared watershed, everything is interconnected. Just like we rely on clean water, plants and animals depend on it too. They're as vital to the ecosystem as we are," Ramirez said. The...

Late-night shows announce return now that writers’ strike has ended

Published Wed, 26 Feb 2025 01:54:22 GMT

(CNN) — It’s the end of an era, so to speak, now that the writers’ strike in Hollywood has reached its end.The men of late-night television – Jimmy Kimmel, Jimmy Fallon, Stephen Colbert, John Oliver and Seth Meyers – all announced via social media on Wednesday that they are gearing up to return to the air on their respective shows early next week.The joint announcement came as a comic book superhero-inspired bulletin featuring the logo of Strike Force Five, the quintet’s recent podcast that had been launched while the hosts’ shows – “The Late Show with Stephen Colbert,” “The Tonight Show Starring Jimmy Fallon,” “Jimmy Kimmel Live,” “Late Night with Seth Meyers,” and “Last Week Tonight with John Oliver” – were dark due to the writers’ strike.The message read, in part, that “the founding members of Strike Force 5 will return to their network television shows this Monday 10/2, and one of them (Oliver) to premium cable on 10/1.”Later, the message continued,...