Home affordability improved again this week. Freddie Mac reports its Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) averaged 6.26% this week.
Mortgage rates decreased yet again this week, prompting many homeowners to refinance. In fact, the share of mortgage applications that were refinances reached nearly 60%, the highest since January 2022, said Sam Khater, Freddie Macs chief economist.
In fact, the Mortgage Bankers Association reported that mortgage applications increased 29.7% last week from one week earlier. Most of those were applications to refinance existing mortgages.
The Refinance Index increased 58% from the previous week and was 70% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 3% from one week earlier.
Indicative of the weakening job market, and in anticipation of a rate cut from the Federal Reserve, mortgage rates last week dropped to their lowest level since last October, with the 30-year fixed rate declining to 6.39%, said Mike Fratantoni, MBAs chief economist.
Homeowners responded swiftly, with refinance application volume jumping almost 60% compared to the prior week.
Fratantoni said homeowners with larger loans jumped first, as the average loan size on refinances reached its highest level in the 35-year history of our survey.
Latest rates
The 30-year FRM averaged 6.26% as of September 18, 2025, down from last week when it averaged 6.35%. A year ago at this time, the 30-year FRM averaged 6.09%.
The 15-year FRM averaged 5.41%, down from last week when it averaged 5.50%. A year ago at this time, the 15-year FRM averaged 5.15%.
Don't trust high-pressure solar sales. Be skeptical of promises like "no electric bill" or "this deal ends today," and always get at least three quotes before signing.
Never sign a contract you can't keep. If everything is done on an iPad, insist on receiving a complete copy of the signed contract by email or in print before the salesperson leaves.
Do your homework first. Research the installer's reviews, licensing, and complaint history, and consider having ChatGPT review the contract for potential red flags before you commit.
Installing solar panels can be a smart long-term investment, but experts say homeowners should be careful before signing anything especially if the offer comes from a door-to-door salesperson.
The warning comes after financial personality Dave Ramsey discussed a caller's experience with a solar company that allegedly promised to eliminate his electric bill in exchange for monthly payments on a solar system. The homeowner later said the deal wasn't what he believed he had agreed to and wanted to know whether he could get out of the contract.
While every situation is different, consumer advocates say the story highlights several red flags that we should watch for before signing a home improvement contract.
Be skeptical of 'too good to be true' promises
One of the biggest warning signs is a salesperson making sweeping promises, such as:
"You'll never pay another electric bill."
"The system pays for itself."
"You can cancel anytime."
"This offer expires today."
Solar panels can definitely reduce your electricity costs, but savings depend on factors such as your home's energy use, local utility rates, available incentives, and the terms of your financing agreement. Always keep in mind that no salesperson can honestly guarantee identical savings for every homeowner.
If someone promises dramatic savings without reviewing your energy usage or utility bills, treat it as a red flag.
Never sign a contract you can't review later
According to Ramsey, one of the biggest warning signs in the caller's situation was that the entire transaction took place on a salesperson's iPad.
The homeowner said he reviewed the agreement electronically and signed it on the device, but afterward was told the company didn't provide a paper copy of the signed contract.
That's a major red flag.
Before signing any contract electronically, make sure you receive a complete copy either printed or emailed to you. Make sure this happens before the salesperson leaves your property.
Once you have the contract in your hands, be sure to review every page carefully, paying close attention to the total project cost, interest rate and financing terms, monthly payment amount, equipment warranties, and the transfer rules if you sell your home.
If you can't easily access the final signed contract, don't move forward.
Pro tip: Take the contract and copy and paste it into ChatGPT and ask if anything about it looks abnormal or out of the ordinary. ChatGPT will quickly inform of you any potential red flags or questions you need to ask the company before moving forward.
Get multiple quotes
One of the easiest ways to avoid overpaying is to compare offers.
Experts generally recommend getting at least three quotes from different installers. That gives you a better sense of pricing, financing options, equipment quality, and estimated energy production.
A salesperson who discourages comparison shopping or pressures you to sign immediately should raise concerns.
Research the company first
Before signing anything, spend a few minutes researching the installer.
Specifically, check out recent customer reviews on Google, Better Business Bureau complaints, state licensing information, and how long the company has been in business.
Spending a few minutes doing a little research can uncover warning signs before they become expensive problems.
If you think you've been misled
If you believe a solar company misrepresented the terms of your agreement, act quickly.
Start by gathering copies of your contract, emails, advertisements, and any text messages you received.
You can file a complaint with your state attorney general's office, your state's consumer protection agency, or the Federal Trade Commission. If significant money is involved, consulting an attorney who handles consumer protection or contract disputes may also be worthwhile.
Three of the nation's largest egg producers have agreed to donate 53 million eggs and pay $3.3 million to settle allegations they conspired to inflate egg prices during a period of record grocery costs.
The settlement, reached with the U.S. Department of Justice and 17 state attorneys general, resolves claims that the companies manipulated a key industry pricing benchmark between 2022 and 2025.
Although the companies deny wrongdoing, they have agreed to new antitrust compliance measures and restrictions on communications with competitors.
Three of the country's largest egg producers have agreed to donate 53 million eggs to food banks and charities and pay $3.3 million to states as part of a proposed settlement resolving allegations that they conspired to artificially inflate egg prices during one of the most expensive periods for grocery shoppers in recent memory.
The agreement, announced by the U.S. Department of Justice and a bipartisan coalition of 17 state attorneys general, involves Cal-Maine Foods, Versova, and Hickman's Egg Ranch. The settlement is still subject to approval by a federal court.
According to investigators, the companies secretly coordinated their bidding activity between June 2022 and March 2025 to influence daily wholesale egg prices published by Urner Barry, an industry benchmark widely used in contracts with grocery stores, restaurants, and food distributors. Prosecutors allege the coordinated bids created the false appearance of stronger demand, pushing benchmark prices higher and ultimately increasing costs for consumers.
Egg prices were already high
The alleged conduct occurred as Americans were already facing soaring egg prices caused by recurring outbreaks of highly pathogenic avian influenza, which killed millions of laying hens and sharply reduced supplies. Retail egg prices climbed above $6 per dozen nationally during early 2025, with some stores charging considerably more.
Investigators said egg prices fell significantly after the companies learned they were under federal investigation, a development authorities say supports their allegations that unlawful coordination contributed to the earlier price spikes.
Eggs for food banks
Under the settlement, the three companies will collectively provide 53 million eggs to nonprofit organizations and food banks across participating states, in addition to paying $3.3 million to the states involved in the investigation. Individual states will receive both monetary payments and egg donations for distribution through local hunger-relief organizations.
Cal-Maine, the nation's largest egg producer, agreed to contribute the largest share of the settlement, including 30 million eggs and $1.5 million. Versova will provide 20 million eggs and $800,000, while Hickman's Egg Ranch will make the remaining contributions.
In addition to the financial and food donations, the companies agreed to significant changes in their business practices. The proposed settlement prohibits communications with competitors intended to influence benchmark prices, requires each company to appoint an antitrust compliance officer, establish monitoring programs, and cooperate with oversight by state and federal authorities.
The companies did not admit liability. Cal-Maine and Versova have denied the allegations, while Hickman's current owner has said the issue occurred under previous ownership.
The settlement does not end all legal challenges facing the industry. Several private antitrust lawsuits filed on behalf of retailers and consumers remain pending, alleging that major egg producers coordinated to drive up prices nationwide.
U.S. consumer confidence edged higher in June, ending a recent slide as lower gasoline prices eased inflation concerns.
Americans felt slightly better about current business conditions but grew more pessimistic about the job market.
Despite the modest improvement, confidence remains below historical norms, suggesting households are still wary about the economy.
U.S. consumer confidence improved modestly in June, offering a tentative sign that Americans are feeling slightly better about the economy after weeks of easing gasoline prices, though concerns about jobs and the broader outlook continue to weigh on households.
The Conference Board's Consumer Confidence Index rose to 91.2 in June, up from a revised 90.6 in May. While the increase was modest and below economists' expectations it marked a reversal after recent declines.
Dana Peterson, chief economist at The Conference Board, said lower oil prices helped reduce consumers' fears about inflation.
Consumers reported a slightly more favorable view of current business conditions, but confidence in the labor market weakened. The Present Situation Index, which measures perceptions of current economic and employment conditions, fell to 116.4, while the Expectations Index, which gauges consumers' outlook for the next six months, climbed to 74.4.
Recession risk?
Although the Expectations Index improved, it remains below the threshold of 80 that has historically been associated with recession risks.
The survey found growing concern about employment. The share of respondents who said jobs are "hard to get" rose to 22.5%, the highest level in more than five years, while the labor market differential a closely watched measure comparing those who say jobs are plentiful with those who say they are hard to find continued to narrow.
The report comes as other economic indicators paint a mixed picture. Separate government data released Tuesday showed job openings remained steady in May, suggesting employers are still hiring despite signs of a slowing labor market. Investors are now awaiting the Labor Department's June employment report later this week for a clearer reading on hiring trends.
Lower fuel costs appear to have played an important role in improving consumers' moods. After surging during the Iran conflict earlier this year, gasoline prices have retreated, easing pressure on household budgets and helping temper inflation worries.
However, consumer confidence remains below pre-pandemic levels and below where it stood a year ago, reflecting continued unease over the economy, inflation, and employment prospects. Economists note that while consumers often express pessimism in surveys, their actual spending has remained relatively resilient, helping support economic growth.
A new JAMA review concludes that excess body weight contributes to about 10% of new cancer diagnoses in the U.S. each year by triggering biological changes that promote tumor growth.
Researchers say chronic inflammation, hormone changes, immune system suppression, and alterations in the gut microbiome are among the key mechanisms linking obesity to cancer.
The review suggests losing more than 10% of body weight may help reduce obesity-related cancer risk, although preventing obesity remains the most effective strategy.
A new scientific review published in JAMA is shedding new light on why obesity substantially increases cancer risk, detailing the complex biological processes that allow excess body fat to create an environment where cancer can develop and thrive.
The review, authored by researchers from Memorial Sloan Kettering Cancer Center, the University of Kansas Cancer Center, and Emory University's Winship Cancer Institute, concludes that overweight and obesity account for roughly 10% of all new cancer diagnoses in the United States each year. The findings synthesize evidence from laboratory research, clinical trials, and large population studies.
The researchers say obesity is far more than an issue of excess weight. It represents a widespread disruption of normal metabolism that affects nearly every system in the body.
"When we think about obesity, we need to think beyond body size," said Dr. Kristy Brown, co-leader of the Obesity, Metabolic Health, and Cancer research program at the University of Kansas Cancer Center and a co-author of the review. "We have the epidemiological data, we have the mechanistic data, and we have the clinical data that show the impact of obesity on outcomes for patients."
How obesity promotes cancer
According to the review, obesity alters the body's fat tissue, causing it to become chronically inflamed. That inflammation produces chemical signals that can stimulate tumor growth, while weakening the immune system's ability to detect and destroy emerging cancer cells.
The researchers identified several key mechanisms behind the increased risk:
Persistent, low-grade inflammation that promotes tumor development.
Increased production of estrogen and other hormones that can fuel hormone-sensitive cancers.
Elevated insulin and altered metabolism that encourage cancer cell growth.
Oxidative stress that damages DNA.
Changes in the gut microbiome that may further promote inflammation and cancer development.
Suppression of immune cells that normally eliminate abnormal cells before they become cancerous.
These biological changes have been linked to at least 13 cancers, including colorectal, pancreatic, liver, kidney, ovarian, thyroid, and postmenopausal breast and endometrial cancers. The strongest associations are seen with endometrial and certain liver and biliary tract cancers.
Weight loss may reduce risk
The review also examined evidence on whether losing weight lowers cancer risk.
Observational studies involving patients who underwent bariatric surgery or used GLP-1 receptor agonist medications found modest reductions in obesity-related cancer incidence among people who lost more than 10% of their body weight. The authors caution that additional research is needed, but the findings suggest meaningful weight loss may help reverse some of the biological changes associated with obesity.
Researchers noted that preventing obesity in the first place is likely to provide the greatest benefit because some obesity-related biological changes become more difficult to reverse after years of excess weight.
A growing public health concern
The findings come as obesity rates continue to climb in the United States and worldwide. The review notes that nearly half of U.S. adults are projected to have obesity by 2030, while global obesity rates are also expected to rise sharply over the next decade. At the same time, cancer diagnoses are increasing worldwide, making obesity prevention an increasingly important component of cancer prevention efforts.
The authors conclude that addressing obesity should be viewed not only as a strategy for improving cardiovascular and metabolic health, but also as an important opportunity to reduce future cancer risk.
Ford is recalling more than 741,000 SUVs, trucks, and luxury vehicles because of a transmission defect that could increase the risk of a vehicle rolling away.
The problem can cause the transmission's park pawl to engage while the vehicle is moving, potentially damaging the parking system.
Owners will begin receiving interim notification letters in August, but a permanent software remedy is not expected to be available until April 2027.
Ford Motor Co. is recalling more than 741,000 vehicles in the U.S. because a transmission defect could increase the risk of a crash by allowing a vehicle to roll away.
According to the National Highway Traffic Safety Administration (NHTSA), the recall affects 741,195 vehicles, including certain model-year 2018-2021 Ford Expedition and Lincoln Navigator SUVs, 2020-2021 Ford Explorer and Lincoln Aviator SUVs, and 2021 Ford F-150 pickup trucks.
The safety agency said the transmission park pawl the mechanical component that locks the transmission when a vehicle is placed in "Park" may engage while the vehicle is still in motion. If that happens, it can damage the vehicle's parking system.
A damaged park system may not properly hold the vehicle once it is parked, creating a risk that it could roll away unexpectedly and increasing the likelihood of a crash.
What to do
To address the issue, Ford dealers will update the vehicles' powertrain control module software. Dealers also will inspect the transmission for damage and replace any damaged transmission components at no cost to owners.
Because the final repair is still being developed, Ford will first mail interim notification letters beginning Aug. 3, 2026, informing owners of the safety risk. The company expects to have the permanent remedy available by April 2027, at which time owners will receive a second letter instructing them to schedule the repair.
Owners can determine whether their vehicle is included in the recall by entering its Vehicle Identification Number (VIN) on the NHTSA recall website. VINs for affected vehicles became searchable on June 26, 2026.
Owners with questions may contact Ford customer service at 1-866-436-7332 and reference recall number 26S48, or contact NHTSA and reference campaign number 26V402000.
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