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Average Rate On A 30-Year Mortgage Drops To Lowest Level Since October

Yeshiva World News -

The average rate on a 30-year U.S. mortgage fell this week to its lowest level in nearly 10 months, giving prospective homebuyers a sorely needed boost in purchasing power that could help inject life into a stagnant housing market. The long-term rate fell to 6.58% from 6.63% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.49%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell. The average rate dropped to 5.71% from 5.75% last week. A year ago, it was 5.66%, Freddie Mac said. Elevated mortgage rates have helped keep the U.S. housing market in a sales slump since early 2022, when rates started to climb from the rock-bottom lows they reached during the pandemic. Home sales sank last year to their lowest level in nearly 30 years. This is the fourth week in a row that rates have come down. The latest average rate on a 30-year mortgage is now at its lowest level since Oct. 24, when it averaged 6.54%. Mortgage rates are influenced by several factors, from the Federal Reserve’s interest rate policy decisions to bond market investors’ expectations for the economy and inflation. The main barometer is the 10-year Treasury yield, which lenders use as a guide to pricing home loans. The yield was at 4.29% at midday Thursday, up slightly from 4.24% late Wednesday. The yield has come down the last couple of weeks after weaker-than-expected July U.S. job market data fueled speculation that the Fed will cut its main short-term interest rate next month. A Fed rate cut could give the job market and overall economy a boost, but it could also fuel inflation just as President Trump’s tariff policies risk raising prices for U.S. consumers. Meanwhile, a new inflation report Thursday showed prices at the U.S. wholesale level jumped 3.3% last month from a year earlier. That’s was well above the 2.5% rate that economists had forecast, and it could hint at higher inflation ahead. Earlier this week, the Labor Department said consumer prices rose 2.7% in July from a year earlier, unchanged from June. Higher inflation could push bond yields higher, driving mortgage rates upward in turn, even if the Fed cuts its key rate. Economists generally expect the average rate on a 30-year mortgage to remain above 6% this year. Recent forecasts by Realtor.com and Fannie Mae project the average rate will ease to around 6.4% by the end of this year. That may not be low enough to make a difference. While trends like declining home listing prices and more properties on the market in the Sunbelt and West now favor buyers, affordability remains a major hurdle for many aspiring homeowners. Home price growth has slowed nationally, but the median sales price of a previously occupied U.S. home still climbed to an all-time high of $435,300 in June. “Homebuyers who have been relegated to the sidelines by high financing costs got some encouragement in the past two weeks, but it remains to be seen if it’s enough to get more of them back in the game,” said Joel Berner, senior economist at Realtor.com. The recent drop in mortgage rates has spurred many homeowners to refinance, however. Mortgage applications jumped 10.9% last week from the previous week as rates […]

NYC’s Chief Medical Examiner Tours Achiezer’s Tahara Facilities, Praises Chevra Kadisha’s Work

Yeshiva World News -

Dr. Jason Graham, Chief Medical Examiner of New York City — who oversees the largest medical examiner’s office in the world — toured Achiezer’s state-of-the-art tahara facilities this week, accompanied by top members of his leadership team. The Achiezer facility is the only halachically-compliant tahara center in New York City outside of Brooklyn. Dr. Graham was joined by First Deputy Commissioner Nicholas Shultz, Chief Advisor Carly Berdan, Logistics Specialist Alex Dron, and Executive Director of Mortuary Response Operation Vincent Ruggiero III. They were welcomed by Achiezer CEO Rabbi Baruch Ber Bender; board members and Chevra Kadisha coordinators Meir Krengel and Aron Rosenberg; operational team member Daniel Goldfeder; logistics specialist Shalom Fruchter; Chaplain Matis Melnicke; Meir Weil; and officials from the Nassau County Police Department. Although scheduled for just 30 minutes, the visit extended well over an hour as Dr. Graham, who had never personally observed Chevra Kadisha’s operations in more than two decades as a medical examiner and forensic specialist, listened intently to each stage of the Chevra Kadisha’s work — from the moment of petirah, whether in a hospital, at home, or in the aftermath of tragedy, through the tahara and on to kevurah. “In my entire career of being a medical examiner and a forensics specialist, I had never had an education like I had today,” Dr. Graham reflected afterward, calling the experience profoundly educational and illuminating. Meir Krengel noted that the presence of a figure of Dr. Graham’s caliber will not only help assist and enhance Chevra Kadisha operations and the preservation of kavod hameis in New York, but could also inspire improvements across the country. (YWN World Headquarters – NYC)

Hezbollah Leader Threatens: We Will Not Hand Over Weapons

Matzav -

In a lengthy speech in Baalbek on Friday, Hezbollah Secretary General Naim Qassem declared that the group “will not hand over its weapons as long as the occupation exists and aggression continues.” He pledged that Hezbollah would wage a “Karbala-like battle” — invoking the historic 7th-century confrontation central to Shiite history — against what he labeled the American-Israeli agenda. He expressed certainty that the movement would prevail and said he placed “full responsibility on the Lebanese government for any strife that may occur.”

Qassem accused the government of shirking its responsibility to safeguard the nation, urging, “Defend Lebanon, and let us build the country together, because it cannot be built by one component alone. This is our country, and we build its sovereignty together; otherwise, there will be no life for Lebanon if you stand on the other side. Either Lebanon remains and we remain together, or to the world, farewell.”

He fiercely denounced the initiative to disarm Hezbollah, warning that it “strips Lebanon, the resistance, and its people of defensive arms during aggression,” leaving both fighters and civilians vulnerable to “killing and displacement.” He alleged the plan was rooted in “an American decision and serves the Israeli project, whether you know it or not,” and taunted, “Were you pleased that Netanyahu praised you? Notice the joy and Israeli statements!”

Qassem dismissed official assertions that the move was driven by foreign coercion, likening it to willingly killing one’s own children for monetary gain. He told his audience, “Do not be afraid, and do not live under intimidation. You are protecting yourselves, not the country.” He argued that if the government is unable to stand up to Israel, it should “step aside” and allow Hezbollah to take on that role.

He cautioned against pushing the Lebanese army into domestic conflict, commending its commanders for avoiding such entanglement. He noted that Hezbollah and its ally Amal had refrained from public demonstrations to give dialogue a chance, but warned that if they are compelled to act, “we are ready. Then protests may head to the streets, to the American embassy, or elsewhere.”

Qassem maintained that Hezbollah’s legitimacy stems from the Taif Agreement, the Lebanese constitution, and the sacrifices of its fighters — not from the approval of the government. He highlighted the group’s achievements, pointing to the end of Israeli occupation in 2000 and the defeat of ISIS in eastern Lebanon in 2017, both carried out with the army’s cooperation.

He characterized the July 2006 war as “a great victory” shared by the Lebanese army, the people, and the resistance, claiming it secured 17 years of deterrence against Israel. He attributed this outcome to the wartime leadership of Hezbollah chief Hassan Nasrallah and voiced gratitude to Iran for its financial, military, and political backing, singling out the late Qassem Soleimani for special mention.

Qassem tied Hezbollah’s mission directly to the Palestinian cause, vowing: “Palestine will remain the compass. All that Israel does, and all that America supports, will not deter the Palestinian people from resistance.”

{Matzav.com}

4th Person Dies As Legionnaires’ Disease Outbreak Sickens Dozens In New York City

Yeshiva World News -

A fourth person has died in connection with a Legionnaires’ disease outbreak in New York City, health officials disclosed Thursday as they revealed that some cooling towers that tested positive for the bacteria are in city-run buildings. The outbreak in Central Harlem has sickened dozens since it began in late July. Seventeen people were hospitalized as of Thursday, according to the health department. The bacteria that causes Legionnaires’ disease had been discovered in 12 cooling towers on 10 buildings, including a city-run hospital and sexual health clinic, health officials said. Remediation efforts have been completed on 11 of the cooling towers, with the final tower’s remediation required to be completed Friday. Legionnaires’ disease is a type of pneumonia that is caused by Legionella bacteria, which grow in warm water and spread through building water systems. The city’s outbreak has been linked to cooling towers, which use water and a fan to cool buildings. People usually develop symptoms — a cough, fever, headaches, muscle aches and shortness of breath — between two days to two weeks after exposure to the bacteria, according to the U.S. Centers for Disease Control and Prevention. Dr. Michelle Morse, the city’s acting health commissioner, said new cases in the Central Harlem outbreak have begun to decline “which indicates that the sources of the bacteria have been contained.” She urged people who live or work in the area to contact a health care provider if they develop flu-like symptoms. (AP)

Antisemitic Graffiti On Shul Wall In Antwerp: ‘Jews Are Child Killers’

Matzav -

Early Friday morning, antisemitic vandalism was found defacing the exterior wall of the main shul belonging to the Shomrei Hadas community in Antwerp, Belgium.

Those arriving for morning tefillah were confronted with the graffiti and quickly notified security personnel, who in turn contacted law enforcement.

The message, scrawled in English, read: “Jews are child killers,” a statement apparently connected to the ongoing conflict in the Gaza Strip. Before authorities arrived, members of the kehillah documented the scene with photographs.

Leaders of Shomrei Hadas noted that Antwerp is typically considered relatively calm when it comes to antisemitic activity, but they acknowledged that this disturbing incident reflects the broader rise in such acts across Europe.

Belgian police responded promptly, opening a formal investigation after receiving the complaint. Detectives are currently examining security footage from cameras in the vicinity in an effort to identify the perpetrator.

“The police are investigating, investigators are checking the security cameras and hope to find the suspect,” the community said.

{Matzav.com}

IDF Seals 7 km of Hamas Tunnels in Gaza

Yeshiva World News -

The IDF reported that over the past four weeks, seven kilometers of Hamas tunnels in northern Gaza’s Beit Hanoun were sealed with more than 20,000 cubic meters of concrete, pumped through a 4.5-kilometer pipeline from near the Netiv Haasara border fence to the heart of the underground network.

Montreal Chossid’s Tefillin Stolen from Car, Later Found Nearby

Matzav -

A Chassidic man in Montreal discovered yesterday morning that his tefillin, along with an expensive Bluetooth device, had been stolen from his car overnight. The vehicle had been left unlocked, and sometime during the night, a thief entered and searched for valuables.

Among the stolen items was the man’s tefillin. According to the victim, identified as Zusha, the thief apparently had no idea what the tefillin were and discarded them at a nearby construction site. Zusha, who is the brother-in-law of the frum Jew violently attacked last weekend in an antisemitic assault — for which the suspect has since been arrested — began searching the area in hopes of recovering them.

He asked local non-Jewish passersby for assistance and even offered a $50 reward to anyone who could help locate the tefillin, but no one agreed to assist him.

Zusha later told friends that thieves often throw away tefillin because they don’t recognize their significance and may fear trying to sell them. Determined to find them, he searched the neighborhood until he spotted the tefillin bag discarded at the construction site. Opening it, he discovered the bag was empty. A quick scan of the area led him to the tefillin themselves, lying in the grass nearby.

{Matzav.com}

Privatization Push Resurfaces as Social Security Approaches Crisis Point on Its 90th Anniversary

Yeshiva World News -

When President Franklin D. Roosevelt signed the Social Security Act into law 90 years ago this week, he said it would provide economic stability to older people while giving the U.S. “an economic structure of vastly greater soundness.” Today, the program provides benefits to almost 69 million Americans each month. It’s a major source of income for people older than 65 and is popular across the country and political lines. It also looks more threatened than ever. Just as it has for decades, Social Security faces a looming shortfall in money to pay full benefits. Since President Donald Trump took office in January, the program has faced more tumult. Agency staffing has been slashed. Unions and advocacy groups concerned about sharing sensitive information have sued. Administration officials, including the president, have falsely claimed that millions of dead people were receiving Social Security benefits. Former top adviser Elon Musk said the program was a potential “Ponzi scheme.” At an Oval Office event Thursday commemorating the program’s anniversary, Trump said that under his watch “we’re strengthening it.” But the president and Republicans who control Congress have not proposed a long-term solution to shore up the program. Social Security remains far from the sound economic system that Roosevelt envisioned, due to changes made — and not made — under both Democratic and Republican presidents. Here’s a look at past and current challenges to Social Security, the proposed solutions and what it could take to shore up the program. The go-broke date has been moved up The so-called go-broke date — or the date at which Social Security will no longer have enough funds to pay full benefits — has been moved up to 2034, instead of last year’s estimate of 2035. After that point, Social Security would only be able to pay 81% of benefits, according to an annual report released in June. The earlier date came as new legislation affecting Social Security benefits have contributed to earlier projected depletion dates, the report concluded. The Social Security Fairness Act, signed into law by Democratic President Joe Biden and enacted in January, had an impact. It repealed the Windfall Elimination and Government Pension Offset provisions, increasing Social Security benefit levels for former public workers. The new tax law signed by Trump in July will accelerate the insolvency of Social Security, said Brendan Duke at the Center on Budget and Policy Priorities. “They haven’t laid out an idea to fix it yet,” he said. Trump on Thursday repeated the claim that his new tax and spending law will eliminate taxes on federal Social Security benefits. That law has a temporary tax deduction for people 65 and over that applies to all income, not just Social Security. But not all Social Security beneficiaries can claim it; among those who cannot are low-income older adults who do not pay taxes on Social Security. AARP CEO Myechia Minter-Jordan said the number of beneficiaries is set to increase to 82 million people by the time Social Security turns 100. “As we look ahead to the next 90 years of Social Security, it’s critical that it remains strong for generations to come,” she said in a statement. The privatization conversation has been revived The notion of privatizing Social Security surfaced most recently last month when Treasury Secretary Scott Bessent said new tax-deferred investment accounts dubbed “ Trump accounts “may serve as a “backdoor […]

Massive Hafganos Outside Beit Lid Prison as Gedolei Torah Lead Outcry Against Giyus Crackdown

Yeshiva World News -

Thousands of Bnei Torah converged Thursday night outside the Beit Lid military prison, protesting the continued imprisonment of yeshiva bochurim who refused to bow to the government’s renewed draft decrees. The demonstration, called for and attended by HaRav Dov Landau shlit”a, came at the climax of a week of demonstrations against the army’s escalating campaign to drag bochurim away from the daled amos shel halacha and into the barracks. Rav Landau had personally visited two of the imprisoned bochurim last week, telling them, “The entire olam haTorah stands behind you. Be strong, and hold firm.” Groups from Peleg Yerushalmi, Slonim chassidim, and other kehillos broke through police barricades before being pushed back by riot units. Some burned and tore up draft orders, while others sang and danced while shouting cries of “Gevalt!” and “We won’t give up even one bochur!” Banners and shouts from the crowd made clear the protest’s purpose: “No quotas, no sanctions!” and “Free the hostages!” — a reference not to captives in Gaza, but to the imprisoned bochurim. Some protesters even appealed to President Trump to “save us from the State of Israel” and its draft decrees. The protest comes after the IDF issued 54,000 draft notices in July alone, following a High Court ruling striking down long-standing deferments for lomdei Torah. Around 80,000 bochurim between 18 and 24 are officially “draft-eligible,” but gedolim warn that any form of enlistment is a spiritual gezeirah that would uproot their way of life. MK Moshe Gafni declared earlier in the day that the campaign “is reminiscent of the Romans who sought to prevent Am Yisroel from learning Torah. We will fight with all our strength.” MK Meir Porush warned that the situation could deteriorate into a “civil war” if the government pushes forward without protecting the Torah world. Local residents complained of nightly marches, shofar blasts, and shouting in the streets. By 10:30 p.m., as the first crowd dispersed, new groups — including more Slonim chassidim — arrived, reigniting confrontations with police into the late hours. The government insists it needs 12,000 more soldiers immediately, citing the ongoing war in Gaza and security challenges. (YWN World Headquarters – NYC)

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