News

Latest: Southern California forest fire burns near homes

yahoo News - Thu, 09/17/2020 - 15:50

A stubborn, growing wildfire in mountains northeast of Los Angeles is moving toward homes. Earlier in the day residents were ordered to leave the community of Juniper Hills in foothills on the north flank of the San Gabriel Mountains. The blaze started Sept. 6 on the south flank of the San Gabriels and has slowly churned across much of the range, through timber and brush that hadn’t burned in decades.


Kamala Harris accused of trespassing on fire-ravaged California property for photo-op by family

yahoo News - Thu, 09/17/2020 - 15:31

Residents not yet allowed to return to survey damaged homes


Trump compares critical race theory to child abuse

yahoo News - Thu, 09/17/2020 - 15:18

While delivering a speech on American history in education, President Trump slammed critical race theory, comparing it to child abuse. Critical race theory is a field of academic study that says American institutions and society are racist.


Texas deputies, including those who killed Javier Ambler, reportedly got steakhouse gift cards for using force

yahoo News - Thu, 09/17/2020 - 15:10

Sheriff’s office leaders rewarded deputies who used force with steakhouse gift cards, according to two former employees.


Mortgage Rates Vary Widely--Nothing To Do With The Fed

Mortgage news - Thu, 09/17/2020 - 14:56

Posted To: Mortgage Rate Watch

Yesterday's policy announcement from the Federal Reserve had a chance to cause significant volatility for the bond market and the bond market is the chief ingredient in the mortgage rate equation. But this time around, the Fed didn't cause a measurable reaction in the mortgage market. I'm frequently asked whether mortgage rates are 0% since the Fed just kept rates at 0%. People hear a headline on the news or a radio soundbyte mentioning the words "Fed, rate, zero," and then assume the Fed just made some change that dropped rates to zero percent. After all why would there be so many news headlines about it if the Fed merely kept its policy rate unchanged?! It's a fair question in that sense, but understand that the Fed's rate decision will always make the news, even if the rate is the same as...(read more)

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MBS RECAP: Still Waiting on Bonds to Attempt a Range Breakout

Mortgage news - Thu, 09/17/2020 - 14:06

Posted To: MBS Commentary

Still Waiting on Bonds to Attempt a Range Breakout Yesterday's Fed announcement managed to deliver the bare minimum of the market's expectations and underdeliver on fairly reasonable hopes. That resulted in a logical protest from both stocks and bonds. This carried over into today, but bonds have yet to even attempt to break their prevailing range. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Jobless Claims 860k vs 850k f'cast , 893k prev Housing Starts 1.416m vs 1.478m f'cast, 1.492m prev Philly Fed Index 15.0 vs 15.0 f'cast, 17.2 prev Market Movement Recap 08:33 AM Stock prices and bond yields drifted lower in the overnight session with 10yr yields almost 4bps lower by 8am. Early econ data isn't hurting with none of the 3 reports...(read more)

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Solider from Fort Bragg killed in Navy base crash in Key West

yahoo News - Thu, 09/17/2020 - 13:28

The U.S. Army has identified a soldier struck and killed by a vehicle driven by an on-duty Navy Security Force civilian Monday on a Key West Navy base.


Michelle Obama: ‘We could’ve never gotten away with’ what Trump does

yahoo News - Thu, 09/17/2020 - 13:13

Michelle Obama is not biting her tongue about the Black experience on her new podcast, “The Michelle Obama Podcast.” On the latest episode, the former first lady opens up about interacting with the police while Black and why she and former President Barack Obama would never be allowed to get away with things President Donald Trump has done in the White House. According to The Hill, Obama said this about her experience in the White House.


Hizbollah 'smuggling ammonium nitrate to Europe for attacks' says US counterterrorism official

yahoo News - Thu, 09/17/2020 - 12:41

Hizbollah has smuggled caches of ammonium nitrate to Europe to use in attacks, a top US counterterrorism official has said. The Iran-backed Lebanese Shia group had moved ammonium nitrate through Belgium to France, Greece, Italy, Spain, and Switzerland, Ambassador Nathan Sales, Coordinator for Counterterrorism within the US Department of State, told reporters in a briefing on Thursday. Ammonium nitrate, a chemical compound often used for explosives which is also sold commercially for use as a fertiliser, caused the August explosion at a Beirut port which killed 190 people and wounded over 6,500. Some 2,750 tonnes exploded when a warehouse caught on fire. Hizbollah, which has a political and a militant wing, is in control of parts of the eastern Mediterranean port. “Today the US government is unveiling new information about Hezbollah’s presence in Europe,” Mr Sales said. “Since 2012, Hezbollah has established caches of ammonium nitrate throughout Europe by transporting first aid kits that contain the substance. I can reveal that such caches have been moved through Belgium to France, Greece, Italy, Spain and Switzerland.”


Poll shows major decline in support for BLM movement across US over last three months

yahoo News - Thu, 09/17/2020 - 12:33

Pew Research Centre survey compared results from June and September


Exclusive: Trump plans executive order to punish arms trade with Iran - sources

yahoo News - Thu, 09/17/2020 - 12:14

U.S. President Donald Trump plans to issue an executive order allowing him to impose U.S. sanctions on anyone who violates a conventional arms embargo against Iran, four sources familiar with the matter said on Thursday. The sources, who spoke on condition of anonymity, said the executive order was expected to be issued in the coming days and would allow the president to punish violators with secondary sanctions, depriving them of access to the U.S. market. The proximate cause for the U.S. action is the impending expiry of a U.N. arms embargo on Iran and to warn foreign actors - U.S. entities are already barred from such trade - that if they buy or sell arms to Iran they will face U.S. sanctions.


Trump’s most-watched campaign ad on YouTube is overloaded with misinformation attacking Biden over China

yahoo News - Thu, 09/17/2020 - 11:55

New report details how president is using misinformation to become extremely popular on YouTube


Letters to the Editor: If the L.A. County Sheriff's Department won't clean up its act, disband its union

yahoo News - Thu, 09/17/2020 - 11:52

Angering the people the department serves while stoking the pain fellow deputies is escalation, pure and simple. It has to end.


'Vast majority' of funding promised by Trump for Kenosha can't be used for recovery, Baldwin, Evers say

yahoo News - Thu, 09/17/2020 - 11:00

Sen. Tammy Baldwin and Gov. Tony Evers say money promised for Kenosha's recovery by the Trump administration could amount to much less than expected.


Special Ops Plan to Buy New Light-Attack Fleet May Get Pushed Back

yahoo News - Thu, 09/17/2020 - 10:58

The commander of AFSOC hasn't given up on buying aircraft for close-air support and precision strike.


How a 'Hillbilly Brigade' saved an Oregon town from raging wildfires

yahoo News - Thu, 09/17/2020 - 10:13

Nicole West steered her bulldozer through the smoldering forest, pushing logs into the underbrush and away from the wildfires ripping through Oregon's Cascade Mountains. Behind West, on the front lines of the 136,000-acre (55,000-hectare) Riverside fire, two young men pulled a water tank behind their pickup truck, struggling to douse the flames. In a year when ferocious wildfires have killed at least 34 people and burned millions of acres in Oregon, Washington and California, the brigade has pulled off a miracle in the thick forests around Molalla in recent days, residents and fire officials say.


In U.S. ally Bahrain, Israel deal rallies a weakened opposition

yahoo News - Thu, 09/17/2020 - 09:54

Bahrain may have won international praise for following in the United Arab Emirates' footsteps and establishing ties with Israel, but the dramatic move by the close U.S. ally could stir a new wave of opposition at home. While the deal will enable Bahrain's Sunni Muslim monarchy to win more support from Western and regional partners, it risks deepening political tensions and may energise a long demoralised opposition led by the Shi'ite majority. Bahrain, host to the U.S. Navy's Fifth Fleet and other international naval operations, was the only Gulf Arab state to witness a sizeable pro-democracy uprising in the 2011 "Arab Spring", which it quashed with Saudi and Emirati help.


Pace of Construction Slows after Three Busy Months

Mortgage news - Thu, 09/17/2020 - 09:46

Posted To: MND NewsWire

Residential construction activity took a breather in August. The U.S. Census Bureau and the Department of Housing and Urban Development reported this morning that all three measures, housing permits, starts, and completions, were lower than their unexpectedly high July rates. Permits for residential construction were issued during the month at a seasonally adjusted annual rate of 1,470,000. This is down 0.9 percent from the revised (from 1,495,000) 1,483,000 units in July. It was also fractionally lower (0.1 percent) than the August 2019 rate of 1,471,000. Analysts had expected a continuation of the heavy pace of construction that kicked in after a disastrous plunge in numbers in March due to pandemic related shutdowns. Permitting was at the low end of estimates from those polled by Econoday...(read more)

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