Mortgage rates ticked higher to 6% this week, mortgage buyer Freddie Mac said Thursday.

Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6% from last week’s reading of 5.98%. 

The average rate on a 30-year loan was 6.63% a year ago.

“In fact, rates are down nearly a full percentage point from this time in 2024, spurring activity from buyers, sellers and owners,” said Sam Khater, Freddie Mac’s chief economist. “As a result, refinance activity is up, and purchase applications are ahead of last year’s pace.”

The average rate on a 15-year fixed mortgage increased to 5.43% from last week’s reading of 4.44%.

RENT BECOMING MORE AFFORDABLE FOR MANY AMERICANS AS MARKET STABILIZES

Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.02% as of Thursday afternoon.

A magnitude 4.9 earthquake struck northwestern Louisiana early Thursday, March 5, 2026, awakening residents across the region and marking the second-strongest recorded tremor in the state’s history, according to the U.S. Geological Survey.

The quake hit at approximately 5:30 a.m. CST (6:30 a.m. EST), with its epicenter located about 6 miles west of Edgefield in Red River Parish, roughly 36-40 miles south-southeast of Shreveport. The USGS initially reported the magnitude as 4.4 before upgrading it to 4.9 based on refined data. The shallow depth of about 3-5 miles (5-10 km) contributed to widespread felt shaking despite the moderate size.

Residents from Shreveport and Bossier City to Coushatta and beyond described noticeable jolts that rattled windows, shook furniture, rattled pipes and briefly disrupted sleep. Social media flooded with reports of “the house shaking like a truck hit it” and questions about whether it was a train, explosion or genuine seismic event. The tremor was felt across much of northern Louisiana and into parts of eastern Texas, with some accounts extending to areas near Texarkana.

No immediate reports of serious injuries, structural collapses or major infrastructure damage emerged by midday Thursday. Emergency management officials in Red River, Bossier and Caddo parishes activated protocols to assess buildings, bridges and utilities, but preliminary surveys indicated only minor issues such as cracked drywall or dislodged items in homes. The USGS issued a green alert for the event, signaling a low probability of casualties or significant economic losses from shaking.

Seismologists noted the rarity of such an event in Louisiana, a state not typically associated with frequent or powerful earthquakes. The Pelican State’s seismic history is dominated by smaller events, often linked to the regional fault systems or induced activity from oil and gas operations in some cases. The previous strongest quake was a magnitude 5.3 event off Grand Isle in southern Louisiana on Feb. 9, 2006 — an offshore tremor tied to different tectonic dynamics.

Thursday’s quake ranks as the strongest inland earthquake in Louisiana records and the most powerful to affect the Shreveport area in decades. It surpasses recent minor activity in the region, including a 2.9 magnitude event near Coushatta in late February 2026 and several 2.6-3.1 tremors since late 2025. The area’s geology includes parts of the stable interior of the North American plate, but proximity to the New Madrid Seismic Zone to the north and Gulf Coast subsidence features can allow occasional felt events.

Experts from the USGS and local universities emphasized that while the quake was significant for the area, it remains below thresholds typically associated with widespread destruction. “Magnitude 4.9 events produce strong shaking near the epicenter but rarely cause major damage unless structures are particularly vulnerable,” one seismologist commented in initial briefings. The event’s shallow focus amplified intensity, leading to “moderately strong” perceived shaking (Modified Mercalli Intensity V-VI) close to the epicenter.

Local officials urged residents to check for gas leaks, inspect chimneys and report any structural concerns to authorities. The Red River Parish Sheriff’s Office and Louisiana State Police coordinated response efforts, while the National Weather Service and emergency broadcasters disseminated safety information. No tsunami risk existed, given the inland location.

The quake prompted a surge in “Did You Feel It?” submissions to the USGS website, helping refine intensity maps. Community reactions ranged from surprise to curiosity, with some longtime residents recalling faint tremors in past years but nothing of this caliber. Social media posts included videos of swaying light fixtures and personal accounts from as far as 100 miles away.

Geologists continue monitoring for aftershocks, which are possible but expected to be minor. As of early March 6, 2026 (KST — corresponding to late March 5 evening local time), no significant follow-up events had been recorded, though small aftershocks below magnitude 2.0 may go undetected without sensitive instruments.

This event underscores Louisiana’s occasional seismic vulnerability, even in areas considered low-risk. State emergency preparedness officials used the occasion to remind residents of basic earthquake safety: drop, cover and hold on during shaking, and secure heavy objects to prevent hazards in future incidents.

As investigations into the quake’s precise cause continue — potentially natural tectonic stress or linked to regional subsurface activity — northwest Louisiana returned to normalcy Thursday afternoon. Schools, businesses and transportation operated without major disruptions, though the morning’s rare rumble left an impression on a region more accustomed to hurricanes and floods than earthquakes.

The 4.9 magnitude tremor serves as a reminder of nature’s unpredictability, even in stable continental interiors. Authorities and scientists will analyze data in coming days to better understand this unusual addition to Louisiana’s seismic catalog.

This article was written by

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Combined Authority aims to tackle shortages of lab space and Grade A offices

Liverpool City Region Combined Authority has announced new funding for property developments to help meet demand for lab space and to tackle the shortage in Grade A office supply. Authority bosses say the funding is designed to “help address key market failures” analysed in the city region’s growth plan for 2025-2035.

Studies show the city region has a “significant demand” for laboratory space, a shortage of Grade A office supply, and a need for more “high-quality industrial accommodation”. The funding launched today has been designed to unlock inward investment and to encourage developers to provide that space.

This round will focus on backing “capital land and property projects that support sector-led clusters”, and on backing schemes where there are “demonstrative viability gaps”. The authority plans to launch more such funding calls in the months and years ahead.

The funding call runs from today until midday on April 1 and focuses on three priority areas.

Grade A Office Space: The CA is “seeking to invest in projects which deliver a minimum 60,000 sq. ft of new or refurbished commercial floorspace which can meet the needs of existing occupiers and support business growth in the Central Business District”.

Specialist Laboratory Space: The authority is looking to invest in schemes “which deliver new or refurbished Category 1 or 2 laboratory space, clean room space and ‘write up’ facilities which can support the growth of high potential start-ups in the Liverpool City Region. This will require delivery of at least 40% of overall floor space for laboratory or clean room uses, which contributes to the Health & Life Sciences sector”.

Premium Industrial Units: The CA is looking to invest in new or refurbished units “to support the growth of the region’s advanced manufacturing sector”.

Cllr Mike Wharton, Liverpool City Region’s cabinet member for business, investment and trade, said: “Unlocking high quality land and property is fundamental to the future of the Liverpool City Region. These new funding calls will accelerate the development of the modern offices, laboratories and industrial space our growing sectors need.

“This is about creating the right conditions for businesses to innovate, invest and expand, so that our communities continue to benefit from more jobs, more opportunities and a stronger, more resilient economy.”

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

Chevron is sounding a dire alarm, warning California Gov. Gavin Newsom and state regulators that newly proposed “cap-and-invest” amendments are a death knell for California’s remaining refineries.

The energy giant warns the move will kill more than half a million jobs, threaten national security and spike gas prices by more than a dollar per gallon — all to fuel a state-run “shakedown” of the energy sector — in a letter addressed to Newsom and obtained by The California Globe.

“The proposed regulation will cripple the survivability of the state’s remaining refineries, which will result in California losing the entire industry to this misguided program,” Chevron President Andy Walz wrote.

“This regulation will increase transportation and aviation fuel prices for consumers. It will risk significant job losses, including many high-paying union jobs, while reducing funding for essential public services,” he continued. “It will upend California’s fuels market and threaten critical energy and national security assets.”

U.S. ‘SITTING ON SIGNIFICANT PROVEN RESERVES’: ANALYST SAYS AMERICA CAN WITHSTAND IRAN ENERGY SHOCK

The California Air Resources Board (CARB) is aiming to make companies cleaner by aggressively lowering the cap on how much total pollution is allowed in the state. Specifically, the board is proposing to pull 118.3 million allowances out of the state’s market between 2027 and 2030 and has more recently increased its carbon reduction target to 90% by 2045.

Chevron’s president wrote a strongly worded letter addressed to California Gov. Gavin Newsom over proposed energy regulations. (Getty Images)

Walz warns that the green energy agenda comes with a price tag for working families, writing that Chevron projections show a $1 increase per gallon of gas by 2030 and an estimated 536,770 industry jobs at risk.

California already has the highest gas prices in the nation, with the current state average listed at $4.81 per gallon, according to AAA. The national average, by comparison, is $3.25 as of March 4.

In some California counties, gas costs as much as $5.74 per gallon.

“These impacts will fall most heavily on lower-income households that spend a disproportionate share of income on transportation fuels, increasing costs without addressing the underlying driver of California’s gasoline prices,” Walz said. “Affordability is a top concern for California’s residents and Chevron, and these proposed amendments would only exacerbate the high cost of living in the state.”

Walz frames this not only as a local issue but as a threat to the energy stability of the entire United States.

“Refinery closures in California reduce fuel supply resilience on the West Coast, increasing risks to military readiness and national security,” Walz cautioned. “Maintaining a stable policy framework that supports continued operation of California refineries is therefore not only an economic and consumer affordability issue, but also a matter of broader energy security and national defense.”

CARB is also reportedly exempt from standard open-meeting rules, allowing it to manage billions of dollars in carbon auctions behind closed doors.

“The California energy industry’s economic, industrial, environmental and national security benefits have been the foundation of a healthy, prosperous state and nation. Adversarial policies at local, regional and state levels have eroded that foundation,” Walz said.

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“These proposed regulatory changes threaten to destroy it. Chevron urges policymakers and regulators to reconsider and revise the proposed regulation before it causes lasting and irreversible harm to California’s economy and energy security and broader vital American interests,” he concluded.

Newsom’s office did not immediately respond to Fox News Digital’s request for comment.

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Operator

Good morning, ladies and gentlemen, and welcome to the Ferrellgas Partners, L.P. Q2 2026 Earnings Conference Call.

[Operator Instructions]

I would now like to turn the call over to Michelle Maggi, Vice President, Corporate Affairs. Please go ahead, Michelle.

Michelle Maggi
Vice President of Corporate Affairs

Thank you, Jonathan. Good day, everyone. Thank you for joining us today for our second quarter 2026 earnings conference call. We released this morning pre-market our earnings. If you haven’t seen it yet, you can find it on our website under the Investor Relations tab at ferrellgas.com.

With me today is Tamria Zertuche, our President and Chief Executive Officer, and Nick Heimer, Ferrellgas’ Vice President and Corporate Controller. Today’s call includes prepared remarks where Tamria and Nick will go over our second quarter results for fiscal 2026, concluding with responses to previously submitted questions.

Please note that this call may contain forward-looking statements as determined by federal securities laws. For this purpose, any statements made during this call that are not statements of historical facts may be deemed forward-looking statements. These statements may be affected by important factors set forth in our filings with the Securities and Exchange Commission and in our latest earnings release. As a result, actual operations or results may differ materially from the results discussed in any forward-looking statements. We undertake no obligation to publicly update any forward-looking statements except to the extent required by law.

In addition, please refer to the Form 8-K earnings release to find disclosures and reconciliations of non-GAAP financial measures that may be referenced