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Most children experience big improvements in a clinical trial

By Mark Huffman of ConsumerAffairs

• First FDA-approved gene therapy for hearing loss targets a rare inherited form of deafness

• Treatment restored hearing in most children in trials, with some detecting whispers

• Breakthrough could open door to broader genetic hearing-loss treatments

The U.S. Food and Drug Administration has approved the first-ever gene therapy to treat a rare form of genetic hearing loss, marking an advancement for both hearing research and the rapidly advancing field of genetic medicine.

The newly authorized therapy, developed by Regeneron Pharmaceuticals, is designed for children born deaf due to mutations in a gene critical for transmitting sound signals from the ear to the brain.

The treatment works by delivering a functional copy of the faulty gene directly into the inner ear, enabling hair cells to produce a protein necessary for hearing. Without that protein, sound cannot be effectively relayed to the brain.

Clinical results show dramatic improvements

In clinical trials, the therapy demonstrated significant results: 11 of 12 children treated experienced meaningful improvements in hearing, and some were able to detect soft sounds such as whispers.

The improvements were often rapid, appearing within weeks of treatment, and in some cases allowed children to begin developing speech after previously being unable to hear.

Todays approval is a significant milestone in the treatment of genetic hearing loss, said FDA Commissioner Dr. Marty Makary.

Through the national priority voucher pilot program, the agency is accelerating therapies for rare diseases with unmet medical needs while proving we can successfully review even the most complex submissionssuch as novel dual vector gene therapies and combination products requiring coordination across multiple offices and centersin significantly shortened timeframes.

Researchers say the results challenge long-held assumptions about the limits of treatment. While earlier thinking suggested gene therapy would only work in very young children, the trial included teenagers who also showed hearing gains.

A rare condition but broader implications

The therapy targets hearing loss caused by mutations in the OTOF gene, a rare condition affecting an estimated 20 to 50 newborns in the United States each year.

Still, scientists and regulators see broader implications. Genetic causes account for roughly half of all hearing loss cases, and researchers are already exploring whether similar approaches could treat other forms of deafness.

Recent studies outside the U.S. have reinforced that promise. In one large international trial, about 90% of participants with inherited deafness showed significant hearing improvement after gene therapy, including some who achieved near-normal hearing.

Fast-tracked under FDA priority program

The therapys approval was accelerated under the FDAs Commissioners National Priority Voucher program, which is designed to speed review of treatments addressing urgent unmet medical needs.

The program can compress the typical review timeline from up to a year to just a few months, reflecting the agencys increasing emphasis on breakthrough therapies.

Gene therapy has long been viewed as a potential way to treat diseases at their root cause by correcting faulty genes rather than managing symptoms. However, until now, no gene therapies had been approved specifically for hearing disorders.

Regeneron has indicated it plans to continue studying the therapy and explore its use in additional forms of genetic hearing loss. Meanwhile, researchers are working to refine gene-delivery methods and expand treatment to more common types of deafness.

For families affected by rare genetic hearing disorders, the approval offers something that until recently seemed out of reach: the possibility of restoring hearing, not just managing its loss.

Eligible consumers will be compensated automatically

By Mark Huffman of ConsumerAffairs

• A federal judge has granted final approval to a $425 million Capital One settlement tied to its 360 Savings accounts.

• Millions of current and former customers will receive compensation automaticallyno claim form is required.

• Consumers should still verify their account and contact details to avoid delays in receiving payment.

A federal court has given final approval to a $425 million class-action settlement resolving claims that Capital One misled customers about interest rates on its 360 Savings accounts, clearing the way for payments to begin later this year.

The ruling, issued by a judge in the U.S. District Court for the Eastern District of Virginia, follows years of litigation alleging the bank failed to raise rates on older 360 Savings accounts while offering significantly higher yields on similarly named 360 Performance Savings accounts.

What the lawsuit alleged

Plaintiffs claimed Capital One marketed its 360 Savings accounts as high-yield while quietly maintaining much lower interest rates than newer accounts, causing customers to miss out on substantial earnings.

The bank denied wrongdoing but agreed to settle, with the revised deal increasing the total payout to $425 million and adding provisions to align interest rates going forward.

Who is eligible for compensation

The settlement covers consumers who held a Capital One 360 Savings account at any point between September 18, 2019, and June 16, 2025.

Both current and former account holders are included, with payments based on factors such as account balance and how long the account was open.

Unlike many class-action settlements, most eligible consumers do not need to file a claim to receive compensation. Payments will be issued automatically using Capital Ones records.

However, there are still a few key steps consumers should take:

Check your eligibility
Log in to your Capital One account or review past statements to confirm you held a 360 Savings account during the covered period.

Make sure your contact information is current
Payments may be sent by check or electronically, so an outdated mailing address or payment preference could delay delivery.

Watch for official communications
Settlement administrators may send notices or updates, including payment timing or instructions. Ignoring these could lead to missed payments.

Be aware of deadlines that have already passed
The deadline to select electronic payment or update details was March 30, 2026, meaning consumers who did not act may receive payment by check if eligible.

When payments will arrive

If there are no appeals, payments are expected to begin around July 2026, though timing may vary depending on processing and verification.

With final approval now secured, the Capital One 360 Savings settlement is moving into the payout phase. While no claim is required, consumers should take simple stepslike confirming account details and watching for updatesto ensure they receive any money theyre owed.

But because of home prices, affordability remains an issue

By Mark Huffman of ConsumerAffairs

• The average 30-year fixed mortgage rate fell to 6.23%, the lowest level of the past three spring homebuying seasons.

• Declining rates are beginning to boost purchase applications, refinancing and pending home sales, signaling improving market momentum.

• Despite recent declines, rates are expected to remain above 6% in the near term, with gradual easing possible later in 2026.

Mortgage rates moved lower again this week, providing a measure of relief to homebuyers as the critical spring selling season gets underway.

Freddie Mac said that the average rate on a 30-year fixed mortgage dropped to 6.23%, down from 6.30% the previous week and well below 6.81% a year ago. The 15-year fixed rate also declined to 5.58%.

The 30-year fixed-rate mortgage declined again to 6.23%, said Freddie Mac Chief Economist Sam Khater, noting rates are now at their lowest level in three spring homebuying seasons.

Early signs of renewed housing activity

The easing in borrowing costs is already showing up in housing data. Freddie Mac pointed to increases in purchase applications, refinancing activity and pending home sales as evidence of improving demand.

Other data reinforce that trend. Pending home sales rose in March and inventory is increasing, while prices have begun to soften in some regions, giving buyers more leverage.

At the same time, the long-standing lock-in effectwhere homeowners with ultra-low pandemic-era mortgage rates were reluctant to sellis beginning to ease, helping bring more listings to market.

Still, the recovery remains uneven. Overall, home sales are near multi-decade lows following the sharp rise in rates since 2022, and affordability challenges persist.

Whats driving rates right now

Mortgage rates have been volatile in recent months, largely tracking movements in the 10-year Treasury yield and broader economic uncertainty.

Recent declines have been tied to lower bond yields and easing inflation fears, although geopolitical tensionsparticularly involving energy marketscontinue to create upward pressure.

Rates briefly dipped below 6% earlier this year but have since rebounded as inflation concerns linger.

Looking ahead, economists expect mortgage rates to remain relatively stable in the low-to-mid 6% range in the near term, barring major changes in inflation or Federal Reserve policy.

The Fed is widely expected to hold rates steady for now after cutting them late in 2025, which should help prevent another sharp rise in mortgage costs.

Forecasts suggest rates could drift down toward the high-5% range by late 2026, but not quickly enough to dramatically improve affordability in the short run.

Impact on the housing market

Lower mortgage rates are likely to support a gradual rebound in housing activity, but not a full recovery.

• Buyers: Slightly improved affordability and more inventory may encourage more purchases, especially as prices stabilize.

• Sellers: Easing of the lock-in effect could bring more homes to market, improving supply.

• Overall market: Activity is expected to pick up modestly, though still constrained by high home prices and economic uncertainty.

While falling mortgage rates are providing a welcome tailwind, the housing markets trajectory will depend heavily on inflation trends, Federal Reserve policy and global economic conditions in the months ahead.

A new survey finds a lot of skepticism

By Mark Huffman of ConsumerAffairs

• Only 2% of consumers say they would buy from an AI-recommended brand without researching it first.

• Nearly all shoppers (98%) take extra steps like reading reviews or searching online before making a purchase.

• The findings highlight a major trust gap as AI becomes more embedded in shopping.

As artificial intelligence becomes a bigger part of how people discover products and brands, a new survey suggests it is far from replacing traditional research habits.

Just 2% of U.S. consumers say they would purchase from an unfamiliar brand based solely on an AI recommendation, according to a new study from Idea Grove. By contrast, 98% of respondents said they verify the brand through other sources before making a decision.

The findings point to a clear divide between how consumers use AI and how much they trust it.

AI helps shoppers find options, but doesnt close the deal

AI tools like chatbots and recommendation engines are increasingly shaping the early stages of the buying journey, helping consumers discover new brands and narrow choices.

But the survey shows that most shoppers still rely on traditional signals such as online reviews, search results, media coverage, and a companys website to confirm whether a brand is credible.

AI is accelerating discovery, but its not replacing decision-making, the report suggests.

That pattern is consistent with broader research showing consumers use AI as a research assistant rather than a final authority. Many shoppers turn to AI for comparisons or suggestions, then verify information elsewhere before completing a purchase.

Trust remains the biggest hurdle

The reluctance to rely solely on AI recommendations underscores ongoing concerns about trust, accuracy, and transparency.

Consumers appear to treat AI suggestions as a starting point, not a guarantee of quality. Instead, they seek out familiar trust markers that predate AI, such as customer reviews and independent validation.

This skepticism is not new, but it is becoming more significant as brands invest heavily in trying to appear in AI-generated recommendations.

Implications for brands and consumers

For businesses, the message is clear: being recommended by AI tools may boost visibility, but it wont automatically translate into sales.

Companies still need to build credibility through strong online reputations, clear information, and positive customer feedback.

For consumers, the trend reinforces the importance of verification in an AI-driven marketplace. Even as technology streamlines shopping, the responsibility for making informed decisions largely remains with the buyer.