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Consumer Daily Reports

The slowdown coincides with an increase in mortgage rates

By Mark Huffman Consumer News: Mortgage applications fell by 10% in just one week of ConsumerAffairs
July 17, 2025
  • Mortgage applications dropped 10.0% amid rising interest rates and post-holiday adjustments.

  • Refinance activity declined 7%, while purchase applications fell to their slowest pace since May.

  • Jumbo mortgage rates remained below conventional rates for the third consecutive week.


The U.S. housing market ground to a halt last week if mortgage applications are any indication. The Mortgage Bankers Association reports the number of people applying for mortgages plunged by 10% from the previous week.

There could be other factors that help explain the numbers. The decline followed an Independence Day holiday week, which typically disrupts normal mortgage application patterns. On an unadjusted basis, applications rebounded 13% compared to the previous week, reflecting some normalization after the holiday.

The Purchase Index, which reflects new home loan applications, declined 12% seasonally adjusted the slowest pace since May while the unadjusted index rose 11% week-over-week and remained 13% higher than the same period last year.

Meanwhile, the Refinance Index dropped 7% week-over-week. Still, refinance activity was 25% higher than the same week in 2024, suggesting longer-term gains despite short-term rate volatility.

The increase in mortgage rates last week, driven by higher Treasury yields and concerns about economic impacts from tariffs, led to a slowdown in both purchase and refinance activity, said Joel Kan, MBAs vice president and deputy chief economist. Jumbo rates being lower than conventional rates for a third week signals strategic shifts by some depository institutions toward balance sheet lending.

Interest rates climbed across loan types

The rise in rates was evident across all major loan categories:

  • 30-year fixed-rate mortgages (conforming): Increased to 6.82% from 6.77%.

  • 30-year jumbo loans: Rose to 6.75% from 6.69%.

  • FHA-backed 30-year loans: Increased marginally to 6.52%.

  • 15-year fixed-rate loans: Jumped to 6.16% from 6.04%.

  • 5/1 adjustable-rate mortgages (ARMs): Increased to 6.08%, though the effective rate decreased due to lower points.

The refinance share of total mortgage activity ticked up to 41.1% from 40.0% the previous week. However, adjustable-rate mortgages saw a dip in demand, making up only 7.1% of total applications, down from 7.6%.




Posted: 2025-07-17 11:24:44

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Consumer News: Judge bars Google from exclusive search engine deals

Tue, 02 Sep 2025 22:07:06 +0000

The ruling will hurt companies that are paid multi-million dollar fees to feature Google on their sites

By James R. Hood of ConsumerAffairs
September 2, 2025

  • Federal judge blocks Google from paying to be the default search engine on devices and browsers

  • Company must share its data with rivals but avoids harsher remedies like selling Chrome

  • Ruling follows years-long monopoly case brought by the Justice Department


A federal judge on Tuesday barred Google from paying to be the exclusive search engine on devices and web browsers, saying the move was necessary to open the market to competitors, according to press reports.

The order, from U.S. District Judge Amit P. Mehta, also requires Google to share its massive trove of search data with rivals to help them improve their services. The decision aims to chip away at Googles overwhelming dominance in search, where it controls about 90 percent of the market.

However, Mehta stopped short of imposing more severe measures sought by the Justice Department, such as forcing Google to sell its Chrome browser. He also said Google could still pay for some distribution of its products to avoid harming partners like device makers and carriers.

Five years of litigation

The ruling stems from a five-year case that began when the Trump administrations Justice Department accused Google of illegally monopolizing the search market through deals with companies such as Apple. Mehta agreed last year that Google had broken antitrust laws and then held a separate trial to determine remedies.

Google is expected to appeal the order, and the company is asking the U.S. Court of Appeals for the District of Columbia Circuit to pause the remedies while the case moves forward. Any financial effects are unlikely to be felt immediately.

The remedies trial highlighted the shifting search market, including the rise of artificial intelligence. Witnesses from AI companies testified that they struggled to gain visibility because partners feared upsetting Google. An Apple executive testified that Google searches through Safari had recently declined for the first time in 20 years, and that Apple may soon add AI options such as ChatGPT or Perplexity to its browser.

What you need to know

  • Judge Amit Mehta barred Google from making exclusive default search deals and ordered it to share data with competitors.

  • The Justice Department sought harsher remedies, including breaking up parts of Google, but the judge declined.

  • The case is ongoing, with Google appealing the order and AI alternatives waiting in the wings.


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Consumer News: Environmental group pressed Rachael Ray to back non-toxic cookware bill

Tue, 02 Sep 2025 22:07:06 +0000

The California bill would ban cookware coated with 'forever chemicals'

By Truman Lewis of ConsumerAffairs
September 2, 2025

  • Environmental Working Group urges Rachael Ray to drop opposition to Californias PFAS cookware ban

  • Senate Bill 682 would prohibit cookware coated with forever chemicals linked to cancer and other harms

  • Celebrity chef Rachael Ray is under pressure to change her stance on toxic cookware


The Environmental Working Group is calling on celebrity chef Rachael Ray to reverse her opposition to a California bill that would ban the sale of cookware containing toxic forever chemicals.

In an August 27 letter to Ray, the advocacy group urged her to support Senate Bill 682, which targets PFAS chemicals, including polytetrafluoroethylene (PTFE), best known for its use in nonstick coatings. EWG argues that independent science and regulators have repeatedly tied PFAS exposure to cancer, hormone disruption, fertility problems, and weakened immunity.

Ray had previously defended PTFE in a letter to lawmakers, calling it safe and effective when used responsibly. EWG rejected that stance, saying the chemicals are highly persistent and contaminate food, water, and even air as cookware coatings wear down.

'Trusted public figure'

As one of the most trusted public figures in cooking, Rachael Ray has a unique opportunity to lead the industry toward safe, sustainable cookware, said Bernadette Del Chiaro, EWGs senior vice president in California. We urge her to support SB 682 and protect families from unnecessary exposure to toxic PFAS.

EWG noted that PTFE-coated pans can shed microplastics detected in human tissue and release fumes dangerous enough that manufacturers warn owners not to keep pet birds in kitchens. The group also pointed to hundreds of cases of so-called Teflon flu reported last year.

PFAS contamination has already affected an estimated 25 million Californians drinking water, EWG said, with health care costs tied to exposure in the state alone ranging from $5.5 to $8.7 billion annually.


What you need to know

  • California lawmakers are weighing a bill (SB 682) to ban cookware containing PFAS forever chemicals.

  • Rachael Ray opposes the bill, defending PTFE nonstick coatings as safe when used properly.

  • EWG is urging Ray to reconsider, saying her support could help shift the cookware industry toward safer alternatives.


Read More ...


Consumer News: What to know about screwworm after first U.S. case identified

Tue, 02 Sep 2025 22:07:06 +0000

An expert shares everything consumers need to know

By Kristen Dalli of ConsumerAffairs
September 2, 2025

  • The U.S. has identified a case of New World Screwworm (NWS) in a Maryland resident who had recently traveled to El Salvador.

  • NWS isnt endemic to the U.S., but its important for travelers to be aware of the risks.

  • U.S. cattle could be at a high risk of NWS.


The U.S. Department of Health and Human Services (HHS) and the U.S. Centers for Disease Control and Prevention (CDC) identified a case of New World Screwworm (NWS) in the U.S.

The case was linked to a Maryland resident who had recently traveled to El Salvador.

As the U.S. Department of Agriculture is conducting an ongoing investigation, what do consumers need to know about NWS?

Dr. Heather Walden, an associate professor in the University of Florida College of Veterinary Medicine, shared her knowledge with ConsumerAffairs, highlighting everything consumers need to know about this parasite.

What do you need to know?

Dr. Walden explained the top things that consumers need to know about NWS.

First, NWS is not endemic to the United States and is of primary concern in areas of central and South America, she explained. The US works diligently with other countries to prevent geographic spread into the US and other areas and the last U.S. outbreak was limited to the Florida Keys nearly a decade ago. This was quickly controlled using sterile release of male flies to effectively break the life cycle.

How is it transmitted?

If youve never heard of screwworm before, Dr. Walden shared the process of how its transmitted.

The NWS is transmitted through adult female flies laying eggs in fresh, non-contaminated wounds, she said. Any fresh wound will suffice, even a tick bite.

Once eggs are laid, they hatch quickly and the larvae (maggots) feed on living tissue as they develop. This takes time, it is not instantaneous. Development typically occurs over a week.

What is the impact on the U.S.?

Dr. Walden explained that while a full-fledged outbreak isnt likely, there are ways that NWS can affect the U.S.

The NWS can have devastating economic impacts on cattle production, which is why the U.S. works hard to keep this fly out of our cattle herds, Dr. Wladen said. The flies feed on living tissue, and if left untreated, animals infested with NWS can die.

Infestations are also painful as the larvae are feeding on living tissue. These flies can also infest most vertebrate hosts, including humans, wildlife, and our companion animals.

Safe travel

Because the NWS is more likely to be found in other countries, Dr. Walden urges travelers to be mindful on their trips.

Be aware of parasites and other pathogens endemic to countries where travel is planned, she said. Those most at risk for NWS include those along the southernmost border or those that travel to endemic areas.

If fly larvae are noticed on any open wounds, seek medical care by contacting your physician or veterinarian and get them removed and identified. With proper care and quick intervention, the outcome is usually favorable.


Read More ...


Consumer News: Electricity rates are soaring — here’s how to save money

Tue, 02 Sep 2025 22:07:06 +0000

An expert shares how consumers might be able to save money

By Kristen Dalli of ConsumerAffairs
September 2, 2025

  • Electricity bills are climbing nationwide, with some regions seeing double-digit hikes as utilities pass rising costs to consumers.

  • Soaring demand and grid upgrades fueled by EVs, AI-driven data centers, and renewable integration are pushing prices higher.

  • Consumers can cut costs by adjusting usage during peak times, exploring utility relief programs, and using smart tech to monitor power quality.


If your electricity bill has felt shockingly high lately, youre not alone.

Across the U.S., utilities are quietly pushing through rate hikes that leave many customers paying far more than they expected. For some households, bills are climbing by double digits in just a few months, straining budgets that are already stretched thin by rising costs elsewhere.

Whats even more frustrating? These hikes often come with confusing explanations and the impact goes beyond the bill, potentially shortening the life of expensive appliances.

Bob Marshall, CEO and founder of Whisker Labs, an autonomous grid monitoring sensor network in the U.S., spoke with ConsumerAffairs about these trends including how consumers may be able to save money.

Where are the price hikes?

Marshall explained that electricity costs are rising across most of the country, but the impact isnt the same everywhere.

Some regions are hit harder depending on their mix of power generation, the age of their infrastructure, and local regulations, he said.

Two main forces are driving the trend:

  • Soaring demand. More EV charging, electronics, and the rapid expansion of data centers delivering AI are pushing electricity use sharply higher. With supply relatively flat, prices rise.

  • Grid upgrades. The grid wasnt built for todays complexity. Utilities are spending heavily to modernize it, and those costs flow directly to consumers.

Why are prices going up?

Marshall shared that there are two primary reasons for these price hikes:

  • Exploding demand. Electrification from EVs and smart devices to massive AI-driven data centers is driving unprecedented electricity use. With limited new supply, prices spike.

  • Grid complexity. Integrating solar, wind, batteries and data center demand has made the grid far more complicated than it was designed to be. Utilities must invest in new generation, transmission, and distribution, and those costs show up in monthly bills.

Compounding both, Tings nationwide sensor network is detecting significant increases in poor power quality, including damaging harmonics, Marshall said. Harmonics are distortions in the electric signal that waste energy, damage equipment, and shorten the life of home appliances. Its an invisible cost that consumers ultimately pay.

Money-saving tips

While consumers may not be immune to these price hikes, Marshall said that there are some ways to save money.

Here are his top money-saving tips:

  • Be strategic at peak times. During a heatwave, even small changes like raising your thermostat a couple degrees or shifting laundry to off-peak hours ease strain on the grid and reduce costs.

  • Look into utility programs. Many providers offer assistance or bill relief options. Availability varies, but its worth checking if bills are becoming a burden.

  • Use smart technology. Ting sensors give homeowners visibility into their homes power quality. Poor quality, like high total harmonic distortion (THD), can quietly drive up costs by reducing efficiency and shortening appliance life. With Ting, consumers can identify these issues and work with their utility to address them.


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Consumer News: Trump presses drug companies to prove COVID products work

Tue, 02 Sep 2025 22:07:06 +0000

Trump accused companies such as Pfizer of failing to share data about the success of vaccines broadly enough

By James R. Hood of ConsumerAffairs
September 2, 2025
  • President Trump urges pharmaceutical firms to publicly show evidence that Covid-19 vaccines and drugs are effective

  • The post comes amid turmoil at the CDC following the ouster of its director and senior staff

  • Trump signals support for Operation Warp Speed but questions whether companies shared data widely enough


President Trump on Monday called on pharmaceutical companies to prove their Covid-19 products work, pressing them to make public data that he says the Centers for Disease Control and Prevention (CDC) has not received.

I want the answer, and I want it NOW, Trump wrote on Truth Social, suggesting that the CDC is being ripped apart by uncertainty over the issue.

Photo

Drugmakers have already published large volumes of research in medical journals and with regulators showing that vaccines are safe and effective. Trump acknowledged he has seen extraordinary evidence that the vaccines and treatments saved millions of lives, but he accused companies such as Pfizer of failing to share that data broadly enough. Pfizer did not immediately respond to a request for comment.

Trump distancing RFK Jr.?

The post comes just days after Health Secretary Robert F. Kennedy Jr. forced out CDC Director Susan Monarez less than a month into her tenure. Kennedy has pledged to rebuild trust in the agency but has drawn criticism from scientists and former officials who say his cuts and rhetoric have weakened public health. Nine former CDC directors, writing in The New York Times on Monday, warned Kennedys actions are endangering the entire nation.

Trumps support is central to Kennedys agenda, but his message Monday suggested some distance from Kennedys anti-vaccine stance. While the president raised questions about transparency, he did not claim the vaccines were harmful and he reminded followers of his role in launching Operation Warp Speed, the government program that produced the shots.

I hope OPERATION WARP SPEED was as BRILLIANT as many say it was, Trump wrote. If not, we all want to know about it, and why???

The comments drew mixed reactions. Vaccine skeptics read them as an attack on drugmakers, while public health advocates saw them as an attempt to stake out middle ground. One former official summed it up as a Rorschach test, noting that Trumps words could be taken in different ways depending on the audience.

What you need to know

  • Trump called out drug companies to publicly share Covid-19 vaccine and treatment data.

  • Health Secretary RFK Jr. is reshaping the CDC, drawing sharp criticism from former agency leaders.

  • Vaccines remain proven safe and effective, but political battles could affect how the public views them.


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