[Fox Business] One injured after Frontier Airlines plane evacuated over ‘strong odor’: report
One person reportedly has been injured at Charlotte Douglas International Airport after a Frontier Airlines plane was evacuated due to a “strong odor.”
The incident happened as Flight 1759 was set to depart Wednesday night to Orlando, Florida.
“Yesterday evening as Flight 1759 was in the boarding process at Charlotte Douglas International Airport, a strong odor was detected throughout the aircraft. As a matter of precaution, the captain issued an evacuation notice,” Frontier Airlines told FOX Business in a statement.
“Passengers exited the aircraft via both the jet bridge and evacuation slides. Initial reports indicate that no visible smoke or fire was observed,” the airline added. “All passengers will be re-accommodated on alternate flights.”
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A person who evacuated the flight was transported to a local medical facility with minor injuries after suffering a fall, Queen City News reports.
Images obtained by the station show the evacuation slide deployed in the rear of the plane as it was parked at the gate.
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One passenger told Queen City News that they first smelled an odor onboard the plane – an Airbus A321neo – before the lights went off.
“We extend our sincere apologies and concern for those impacted and are investigating the cause of the incident,” Frontier Airlines also said, noting that the plane had 226 passengers onboard.
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The Federal Aviation Administration told FOX Business that the crew “reported the smell of smoke in the cabin” and it will be investigating the incident.
[Fox Business] Baltimore bridge collapse spotlights past disasters caused by ships
The recent collapse of the Francis Scott Key Bridge in Maryland has brought attention to other past instances of bridge incidents stemming from vessel hits.
The Francis Scott Key Bridge, which crossed the Patapsco River near Baltimore, sustained a hit from a large container ship early Tuesday morning, causing it to collapse.
The incident left six missing people presumed dead and is expected to impact the economy.
The original Sunshine Skyway Bridge experienced a partial collapse that took the lives of nearly three dozen people over 43 years ago. Their ages reportedly ranged from 7 months old to 92 years old.
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That incident occurred after a massive ship ran into part of the bridge that goes over Florida’s Tampa Bay during a severe storm, according to the Tampa Bay Times.
The ship involved in the collision was the Summit Venture. Conditions the Summit Venture had been trying to sail in at the time it hit the bridge included fog, rain and high-speed winds, the outlet reported.
About 1,200 feet of the bridge went into the water, the outlet reported.
Authorities replaced the damaged Sunshine Skyway Bridge about seven years after the incident.
Another incident is the 2002 collapse of the Interstate 40 bridge near Webbers Falls, Oklahoma.
In a report, the National Transportation Safety Board (NTSB) linked the collapse to a towboat that “veered off course and rammed” into the bridge. The roughly 100-foot towboat had been maneuvering a pair of barges.
The collapse, which caused 14 deaths, affected about 500 feet of the bridge. Nearly 60 local, state and federal agencies were involved in responding to the incident.
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The Interstate 40 Bridge sustained about $30.1 million worth of damage, “including the operation of detours,” according to the NTSB. Meanwhile, damages to the barges amounted to $276,000.
The Big Bayou Canot bridge incident caused the deaths of 47 people. It took place in 1993.
All of those individuals had been traveling on an Amtrak train that partially fell into the water from the bridge near Mobile, Alabama, according to The Associated Press.
The railroad bridge became misaligned due to a hit from barges being transported by a towboat called Mauvilla. Fog and other factors contributed to the collision, according to an NTSB report published online by Wikimedia.
Multiple train cars, including two for passengers and ones for baggage and sleeping, derailed in the incident, the report said. It has been called one of Amtrak’s worst-ever rail accidents in terms of fatalities, according to the AP.
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The incident led to damage and rerouting costs of over $19.08 million, according to the NTSB.
There have been other major bridge collapses. For example, the Interstate 35W bridge in Minneapolis experienced one in 2007 that stemmed from “inadequate load capacity” and weight loads on the bridge.
[Fox Business] Today’s 30-year mortgage rates hold steady | March 28, 2024
The interest rate on a 30-year fixed-rate mortgage is 7.000% as of March 28, which is unchanged from yesterday.
With mortgage rates changing daily, it’s a good idea to check today’s rate before applying for a loan. It’s also important to compare different lenders’ current interest rates, terms, and fees to ensure you get the best deal.
Rates last updated on March 28, 2024. Rates are based on the assumptions shown here. Actual rates may vary. Credible, a personal finance marketplace, has 5,000 Trustpilot reviews with an average star rating of 4.7 (out of a possible 5.0).
When you take out a mortgage loan to purchase a home, you’re borrowing money from a lender. In order for that lender to make a profit and reduce risk to itself, it will charge interest on the principal — that is, the amount you borrowed.
Expressed as a percentage, a mortgage interest rate is essentially the cost of borrowing money. It can vary based on several factors, such as your credit score, debt-to-income ratio (DTI), down payment, loan amount, and repayment term.
After getting a mortgage, you’ll typically receive an amortization schedule, which shows your payment schedule over the life of the loan. It also indicates how much of each payment goes toward the principal balance versus the interest.
Near the beginning of the loan term, you’ll spend more money on interest and less on the principal balance. As you approach the end of the repayment term, you’ll pay more toward the principal and less toward interest.
Your mortgage interest rate can be either fixed or adjustable. With a fixed-rate mortgage, the rate will be consistent for the duration of the loan. With an adjustable-rate mortgage (ARM), the interest rate can fluctuate with the market.
Keep in mind that a mortgage’s interest rate is not the same as its annual percentage rate (APR). This is because an APR includes both the interest rate and any other lender fees or charges.
Mortgage rates change frequently — sometimes on a daily basis. Inflation plays a significant role in these fluctuations. Interest rates tend to rise in periods of high inflation, whereas they tend to drop or remain roughly the same in times of low inflation. Other factors, like the economic climate, demand, and inventory can also impact the current average mortgage rates.
To find great mortgage rates, start by using Credible’s secured website, which can show you current mortgage rates from multiple lenders without affecting your credit score. You can also use Credible’s mortgage calculator to estimate your monthly mortgage payments.
Mortgage lenders typically determine the interest rate on a case-by-case basis. Generally, they reserve the lowest rates for low-risk borrowers — that is, those with a higher credit score, income, and down payment amount. Here are some other personal factors that may determine your mortgage rate:
Other indirect factors that may determine the mortgage rate include:
Along with certain economic and personal factors, the lender you choose can also affect your mortgage rate. Some lenders have higher average mortgage rates than others, regardless of your credit or financial situation. That’s why it’s important to compare lenders and loan offers.
Here are some of the best ways to compare mortgage rates and ensure you get the best one:
One other way to compare mortgage rates is with a mortgage calculator. Use a calculator to determine your monthly payment amount and the total cost of the loan. Just remember, certain fees like homeowners insurance or taxes might not be included in the calculations.
Here’s a simple example of what a 15-year fixed-rate mortgage might look like versus a 30-year fixed-rate mortgage:
If you’re thinking about taking out a mortgage, here are some benefits to consider:
And here are some of the biggest downsides of getting a mortgage:
Requirements vary by lender, but here are the typical steps to qualify for a mortgage:
Here are the basic steps to apply for a mortgage, and what you can typically expect during the process:
Refinancing your mortgage lets you trade your current loan for a new one. It does not mean taking out a second loan. You will also still be responsible for making payments on the refinanced loan.
You might want to refinance your mortgage if you:
The refinancing process is similar to the process you follow for the original loan. Here are the basic steps:
If you need to tap into your home’s equity to pay off debt, fund a renovation, or cover an emergency expense, there are two popular options to choose from: a home equity loan and a home equity line of credit (HELOC). Both a home equity loan and a HELOC allow you to borrow against your home’s equity but a home equity loan comes in the form of a lump sum payment and a HELOC is a revolving line of credit.
These two loan types have some other key similarities and differences in how they work:
Interest rates on mortgages fluctuate all the time, but a rate lock allows you to lock in your current rate for a set amount of time. This ensures you get the rate you want as you complete the homebuying process.
Mortgage points are a type of prepaid interest that you can pay upfront — often as part of your closing costs — for a lower overall interest rate. This can lower your APR and monthly payments.
Closing costs are the fees you, as the buyer, need to pay before getting a loan. Common fees include attorney fees, home appraisal fees, origination fees, and application fees.
If you’re trying to find the right mortgage rate, consider using Credible. You can use Credible’s free online tool to easily compare multiple lenders and see prequalified rates in just a few minutes.
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[Fox Business] California bars required to offer drug testing devices this summer
A new law will require many establishments that serve booze in California to provide drug test tools and post signage warning about drink spiking, starting July 1 this year.
The measure, AB1310, requires establishments with a Type 48 liquor license – granted to bars and nightclubs, without a requirement to serve food – to offer patrons drug testing kits to test for common date-rape drugs, often referred to as ‘roofies,’ according to a press release.
The required signage will include a message reading, “Don’t get roofied! Drink spiking drug test kits available here. Ask a staff member for details.”
The state says the new law will affect approximately 2,400 establishments in the Golden State.
CALIFORNIA FOOD CHAINS LAYING OFF WORKERS AHEAD OF NEW MINIMUM WAGE LAW
Establishments must make test strips available, either for free or a small charge to customers who request them. Test strips have been on the market for a few years, often distributed at colleges, universities and within the U.S. military community.
State Assembly member Jowsh Lowenthal of Long Beach – who owns three restaurants – introduced the bill to prevent sexual assault, according to local FOX 2 KTVU.
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“We have a crisis that’s taking place that’s resulting in sexual assault, that’s targeting primarily women and members of the LGBTQ communities,” Lowenthal said in a video presentation to the assembly. He is a father to three daughters and said the crime is underreported.
“By way of example, I have members of my staff that have been roofied, members of the legislative body that have been roofied,” he said.
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California is the first state in the country to enact such a law.
[Fox Business] ‘Shark Tank’ star Barbara Corcoran reveals when housing prices ‘will go through the roof’
One of America’s most prominent figures of commerce, finance and real estate has unveiled exactly when the housing market may see its next drastic shift.
“I can’t explain the rates going up or down – that’s not my bailiwick. But what I can explain is if rates go down, just another percentage point, that’s what I’m hoping for, prices are going to go through the roof,” The Corcoran Group founder and “Shark Tank” investor Barbara Corcoran said in a wide-ranging interview on “Cavuto: Coast to Coast” Wednesday.
“Everyone will come out and buy. There are probably 10 buyers on the sidelines waiting for interest rates to come down that are actually active in the market,” she continued. “So everybody’s going to charge the market.”
As of March 27, the interest rate on a 30-year fixed-rate mortgage sat at 7% while the 15-year fixed-rate mortgage was 6.125%, both unchanged from the previous day.
REAL ESTATE INVESTOR WARNS TRUMP’S N.Y. CASE WILL ‘WREAK FINANCIAL HAVOC’ ON THE CITY
The Federal Reserve left interest rates unchanged for the fifth straight time in its latest meeting, while clarifying that plans to cut rates may be pushed out further, but remained committed to three this year.
The decision, which was widely expected, keeps the federal funds rate between a range of 5.25% to 5.5%, a 22-year-high. This will also keep rates for mortgages, loans and credit cards at elevated levels.
“If you wait for interest rates to come down by another point, I don’t think you’ll gain. I think you’ll wind up paying more,” Corcoran cautioned, “because I wouldn’t be surprised if real estate went up by another 8 or 10% if interest rates come down.”
“There’s a magic number that makes people get all juicy about. And it just has to slide down there for everybody to say: let’s get out there and take advantage of it,” she added.
Corcoran also expanded on recent commentary where she argued that the cost of selling homes could go down this year, but it doesn’t mean housing price tags will go lower.
“A lot of people are predicting house prices will come down because the seller will pay less of a commission and take that difference and give it to the buyer. Sellers aren’t made that way. When the seller lists a home, they want the most money they can get, so they’re going to take any savings and put it in their pocket,” she told FOX Business’ Neil Cavuto.
“The cost of housing, I believe, will go up because it has been going up. It’s been going up for the last five years, despite the dire state of the shortage of houses,” Corcoran said. “So house prices have gone up 6% this year alone. But the real deal is, [there] is not enough houses to go around.”
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Amid other macroeconomic uncertainties, the one factor that would push real estate on an upward trajectory is more supply, according to the industry leader.
“Whenever there’s uncertainty, people stall. And whenever people stall, it stalls the marketplace. So any kind of uncertainty slows down the market,” Corcoran noted. “But despite that, and overriding all of that, is a shortage of houses. You can’t erase a shortage of houses, and it’s going to push that market forward.”
FOX Business’ Suzanne O’Halloran contributed to this report.
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