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U.S. key 30-year mortgage rate jumps back over 5%, now 5.22%

Average long-term U.S. mortgage rates soared this week in a continued volatile market as the key 30-year loan rate jumped back over 5%

Average long-term U.S. mortgage rates soared this week in a continued volatile market as the key 30-year loan rate jumped back over 5%. Mortgage buyer Freddie Mac reports that the 30-year rate rose to 5.22% from 4.99% last week. The average rate on 15-year, fixed-rate mortgages, popular among those looking to refinance their homes, increased to 4.59% from 4.26%. Last week the 30-year rate fell below 5% for the first time in four months. Experts see some stability returning to the housing market as the drop in homebuyer demand moderates although supply remains fairly tight. Read more

Fowler, Day make early bid in Memphis to keep season going

Rickie Fowler and Jason Day have reason to feel lucky to be even in the PGA Tour's postseason

Rickie Fowler and Jason Day have reason to feel lucky to be even in the PGA Tour's postseason. And now they want to keep going. Each shot a 65 in the opening round of the FedEx St. Jude Championship. That's not enough for the lead, only to give them hope. The co-leaders are Si Woo Kim and J.J. Spaun at 62. But the opening event of the FedEx Cup playoffs is all about being in position to move on to the next round. Fowler and Day needed some of their best golf. They got off on the right foot. Read more

The PGA Tour's lucrative postseason gets underway Thursday and there's still lingering talk about the Saudi-funded LIV Golf league. Rory McIlroy says common sense prevailed when a federal judge in California ruled against three LIV players wanting a piece of the FedEx Cup pie. Talor Gooch and Hudson Swafford were in Memphis hopeful of a favorable ruling. They won't be playing. The field for the FedEx St. Jude Championship is at 120 players. Five players have withdrawn for injury or other reasons. They'll be competing for $75 million in bonus money, along with two tournaments with $15 million prize funds. Read more

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