Fast-rising interest rates are taking their toll on mortgage demand, as both potential homebuyers and current homeowners head to the sidelines. Total #mortgage application volume dropped 4.1% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Read more at the #linkinbio or the link on screen.
1:02
Fast-rising interest rates are taking their toll on mortgage demand, as both potential homebuyers and current homeowners head to the sidelines. Total #mortgage application volume dropped 4.1% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Read more at the #linkinbio or the link on screen.
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Millions of households are doing it tough, while the banks profit on the housing crisis, and Labor is making it worse. Tax changes alone were never going to cut it. Labor needs to take on corporate greed in the housing market by taxing big corporations, build more public homes like Australia used to, and end grandfathering for wealthy property investors. Via @Barbara Pocock
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Under the proposal, employees who worked more than 32 hours in a workweek would be eligible for overtime pay. The standard 40-hour workweek was established in law nearly 90 years ago, according to Takano. “Since then, cellphones, the internet and now AI have increased worker productivity, but the profits have been largely concentrated at the top by billionaires and corporations. Work has fundamentally changed. It’s time that labor standards caught up,” Takano said. Sanders and Takano argue that
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