Show Notes
The average rate on a traditional 30-year fixed mortgage just rose above 7.1% — the highest it’s been in more than two years. That’s pushing more people toward adjustable-rate mortgages, where the rate changes typically after five, seven, or 10 years. But these mortgages can be a riskier bet. We hear more. Then, we learn how changes to immigration policy are impacting hospitality workers and the Latin entertainment industry in Las Vegas.
Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.
Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.
Stories featured in this episode:
More people are turning to adjustable-rate mortgages From immigration crackdowns to data centers, Nevada's big economic stories
More from Marketplace Morning Report
Meta reported earnings yesterday. Revenue was up 26% year over year, but costs rose 68%. This is the kind of thing that has some investors in the tech space a little nervous; while demand for AI and tech is doing just fine, the cost of investing in it has gone up. We discuss. Plus, as the weather turns colder, Northeast residents who use heating oil are facing much higher costs.
Farmers in the U.S. are looking for ways to save money and stay afloat. They have not been able to catch a break in the past few years — between tariff retaliation, still-climbing fertilizer prices, and record-high diesel prices. One option to boost revenue for struggling farmers: biofuel crops, which can be turned into diesel. But first, is your car underwater? If so, you're not alone.
Less than two weeks out from the midterm elections, many races are unexpectedly tighter than some analysts predicted earlier in the cycle. That has led to a flood of new spending. “2026 will almost undoubtedly be the most expensive political cycle in history," said Jesse Contario at MiQ's political team. In this podcast, we do the numbers on election spending. Also on the program: tech earnings are starting to roll in, and the nation's manufacturers are showing a mixed picture.
The housing industry got a heap of bad news on Tuesday. New construction was down, and pending home sales dropped to their lowest level since 2001. Higher mortgage interest rates are to blame. The average rate for a 30-year fixed-rate loan is just shy of 7.5%. Average mortgage rates in the '70s were higher, though, and didn't lead to a housing affordability crisis like today's. What gives? And later: lessons from a San Francisco Bay Area universal basic income program.
The Federal Aviation Administration is expected to announce today that it has certified a new Boeing jet, Reuters reports. Boeing was supposed to start delivering its 737 MAX 10 back in 2020, but years of technical problems have kept it from moving forward. With federal approval, the jet could be a big help to airlines facing rising fuel costs. Plus, we discuss the impact of wars, high inflation, and high borrowing costs on company earnings. And later, Americans increasingly fear AI.