| Good morning, it is Wednesday, August 28, and we're covering US 30-year mortgage rate falls to lowest since April 2023, Lowe's dials back efforts aimed at LBGTQ groups& much more!! First time reading? | | American Fact of the Day! | On August 28, 1963, during the March on Washington for Jobs and Freedom, baseball legend Jackie Robinson, who broke Major League Baseball's color barrier, was a prominent speaker and advocate for civil rights. While not a sports event per se, his involvement highlighted the intersection of sports and social justice. | | Breaking Updates | | US 30-year mortgage rate falls to lowest since April 2023 | The average interest rate for a 30-year fixed-rate mortgage in the U.S. fell to its lowest level in 16 months, dropping to 6.44% as of the week ending August 23. This decrease, following Federal Reserve Chair Jerome Powell's indication of a potential rate cut next month, has sparked a rise in refinancing applications as homeowners seek to benefit from lower monthly payments. This rate drop follows a peak of 7.9% in October 2023 and marks the lowest average since April 2023. | Despite the decline in rates, mortgage and purchase applications only saw modest increases of 0.5% and 1%, respectively, as prospective buyers await further reductions. Interest-rate futures suggest that the Fed may lower short-term rates by a full percentage point by year's end. High borrowing costs and limited housing inventory have exacerbated affordability issues, becoming a central theme in the upcoming presidential election, with both major candidates pledging to address the housing crisis through different strategies. | Read More Here |
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| Lowe's becomes latest company to dial back DEI efforts aimed at LGBTQ groups | Home goods retailer Lowe's is scaling back its LGBTQ inclusion initiatives, responding to mounting pressure from conservative groups targeting queer representation. The company has announced it will end its involvement with the Human Rights Campaign (HRC), the leading LGBTQ advocacy organization, and will consolidate its minority employee resource groups into a single entity. Additionally, Lowe's will cease its sponsorship of LGBTQ community events, such as Pride parades, reflecting a shift from its previous support, including its sponsorship of the Charlotte Pride parade in 2019. | Despite some reports suggesting a broader rollback of diversity efforts, the changes at Lowe's appear to specifically address LGBTQ representation. The company had previously earned high marks for its inclusivity, including a perfect score on HRC's corporate equity index. Lowe's remains led by African American CEO Marvin Ellison, who has been recognized for his leadership, and the company still maintains a webpage dedicated to its diversity and inclusion efforts, emphasizing a commitment to fostering a supportive work environment. | Lowe's decision aligns with a wider trend among corporations, including recent moves by Harley Davidson, Jack Daniel's parent Brown-Forman, and others, to reduce visible LGBTQ support in response to conservative pressure. This trend is led by activists like Robby Starbuck, who claim to influence these corporate shifts through public campaigns. Critics, including HRC, argue that such retreats undermine trust and could harm companies by alienating talent and consumers, potentially impacting their long-term success. | Read more updates here | | | American Sports & Culture |  | US Open: Carlos Alcaraz overcomes shaky 2nd set in pursuit of third straight Grand Slam | Alcaraz won 10 of the last 11 games. |
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|  | Familiar faces, new places: QB transfers have taken over college football | In all, 43 transfer quarterbacks are projected to start among the 68 power conference teams this week — the most glaring sign yet of the transient era of college football. |
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|  | NFL 2024 preview: What's new? Scheduling and broadcasting changes including Tom Brady | The Fox debut of Tom Brady is one of the stories of the NFL season. |
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| American Business & Markets |  | The typical U.S. worker out-earned inflation by $1,400 a year, data shows | Even as price growth has surged in the pandemic era, earnings of middle-class and even lower-class jobholders have risen too. |
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|  | Nvidia to report Q2 earnings Wednesday in major test for AI trade | AI giant Nvidia will report its Q2 earnings after the bell on Wednesday. |
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|  | Berkshire Hathaway tops $1 trillion market cap for first time as Buffett accelerates BofA stock sales | Berkshire Hathaway reached an exclusive territory Wednesday that in the US currently includes just six other companies — all from the tech world. |
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| | American Politics |  | Biden administration may soon restart key immigration program for Cubans, Haitians, Nicaraguans and Venezuelans | The Biden administration may soon restart a key immigration program that had been paused this summer over concerns of fraud, according to a source familiar with the matter. |
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|  | Congresswomen press FDA on why a proposal to ban hair-straightening chemicals is delayed | The letter from Pressley, Brown and Velazquez asks FDA Commissioner Robert Califf to provide specific reasons for the monthslong delay. |
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|  | Vance opens up on running with Trump: 'We're each trying to talk to different people in different ways' | In an interview with NBC News, JD Vance talked about helping Georgia Gov. Brian Kemp reconcile with Trump and expressed regret for his recent awkward visit to a bakery. |
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