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Mortgage rates drop below 6%, matching lowest level since 2022

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Mortgage rates drop below 6%, matching lowest level since 2022
Mortgage rates dip below 6 percent

A stock market sell-off had investors rushing to the relative safety of the bond market Monday morning, causing yields to drop and mortgage rates to follow.

The average rate on the popular 30-year fixed mortgage fell to 5.99% on Monday, according to Mortgage News Daily, matching its lowest levels since 2022. Last year at this time the rate was 6.89%.

The drop in yields is due to a combination of factors, including new uncertainty over tariffs, cooling inflation and economic weakness shown in a lackluster gross domestic product report Friday.

While rates briefly dipped into the 5% range for a few hours in January, they bounced back that same day. That is unlikely this time around, according to Matthew Graham, chief operating officer at Mortgage News Daily.

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“This visit to the high 5’s looks more sustainable on paper,” Graham said. “As long as the broader bond market doesn’t sell-off in any major way, mortgage rates stand a better chance of remaining closer to present levels than they did last time. And if the broader bond market improves further (i.e. 10yr yields dipping under 4.0%), mortgage rates would likely make incremental gains.”

The drop in rates will likely incite more refinancing, which has been surging over the last several weeks. Applications to refinance a home loan are about 130% higher than they were a year ago, according to the Mortgage Bankers Association.

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Lower rates are a positive sign heading into the all-important spring housing market. Buyers entering the market today will have more purchasing power than they did last spring.

For example, a buyer putting 20% down on the median priced home, about $400,000 according to the National Association of Realtors, would have a monthly payment of $1,916 for the principal and interest. One year ago, that payment would have been $2,105, a difference of $189.

While the difference in the monthly payment may not seem like a lot, more borrowers would qualify for a loan in general at today’s lower rates. The Realtors’ chief economist, Lawrence Yun, noted in his January pending home sales report that, “With mortgage rates nearing 6%, an additional 5.5 million households that could not qualify for a mortgage one year ago would qualify at today’s lower rates.”

He did make the caveat that most newly qualifying households do not act immediately, “but based on past experience, about 10% could enter the market—potentially adding roughly 550,000 new homebuyers this year compared with last year.”

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So far, applications for a mortgage to purchase a home have not seen a major reaction to lower rates. Those applications were just 8% higher year over year in mid-February.

Correction: This story has been updated to correct that Monday’s 30-year fixed mortgage rates matched their lowest level since 2022. A previous version misstated the milestone.

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(VIDEO) KPop Demon Hunters Fans Face Lengthy Wait for Sequel, Director Maggie Kang Confirms

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Tim Curry

Fans eagerly awaiting a follow-up to the blockbuster animated musical KPop Demon Hunters will likely need patience, as co-director Maggie Kang has confirmed a “long wait” for any potential sequel due to the extended production demands of high-quality animation.

KPop Demon Hunters
KPop Demon Hunters

In a recent Bloomberg interview published Feb. 19, 2026, Kang addressed the future of the Netflix hit, which shattered streaming records upon its June 2025 release and became the platform’s most-watched animated film ever. While she stopped short of official confirmation, Kang acknowledged the strong demand for more stories featuring the demon-slaying K-pop girl group HUNTR/X — Rumi, Mira and Zoey.

“I can’t really say that officially, but in a world that loves sequels, I don’t think it’s a surprise that something else could be coming,” Kang told interviewer Mishal Husain. “But it’s going to be a long wait unfortunately, because animation takes a long time.”

The comment tempers earlier optimism around a quicker turnaround. Reports from late 2025 indicated Sony Pictures Animation and Netflix had agreed to develop a sequel targeting a 2029 release, roughly four years after the original’s debut. However, recent statements from Sony executives, including Animation President Kristine Belson, have downplayed that timeline as overly ambitious.

In interviews with outlets like IGN and The Hollywood Reporter, Belson emphasized the intense workload facing animation studios, including commitments to other projects and the meticulous process required for feature-length animated films. “There’s been a lot to tend to,” Belson noted, suggesting 2029 might prove unrealistic given current priorities and the labor-intensive nature of the medium.

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Kang’s update arrives as KPop Demon Hunters continues its award-season momentum. The film, co-directed by Kang and Chris Appelhans, earned nominations and wins at events like the 2026 Annie Awards, where it dominated categories for character animation, music and direction. Its blend of K-pop energy, supernatural action and cultural representation resonated globally, spawning fan communities, viral edits and live performances by the voice cast portraying HUNTR/X.

The original story followed the trio balancing idol fame with secret battles against demons threatening the world, voiced by talents including Ejae, Audrey Nuna, Rei Ami and others, with Lee Byung-hun as the villainous Gwi-ma. Kang has previously teased untapped potential in character backstories and expanded lore, including side stories cut from the first film and possibilities for global demon-hunting adventures beyond Korea.

In a Collider interview following an FYC screening, Kang and Appelhans described their vision for a sequel as “bolder and bigger,” promising heightened stakes, deeper emotional layers and boundary-pushing elements. “We’re up for the challenge,” Kang said, hinting at darker, more ambitious storytelling while maintaining the humor, heart and musical spectacle that defined the original.

Despite the enthusiasm, the animation pipeline remains a significant hurdle. Feature animation often spans four to six years from concept to completion, involving storyboarding, voice recording, intricate character design, complex effects for demon battles and music production. The success of KPop Demon Hunters has only intensified expectations, but Kang stressed the importance of quality over speed.

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“Animation just takes a long time,” she reiterated in the Bloomberg piece, echoing industry-wide realities amid staffing shortages and rising production costs. Sony Pictures Animation, which developed the film before its Netflix deal, continues negotiations for the follow-up, with Kang and Appelhans expected to return if talks progress.

Fan reactions have been mixed. Social media buzz reflects excitement tempered by disappointment over the delay, with some expressing concern that a prolonged wait could diminish momentum for the franchise. Others praised Kang’s candor and commitment to delivering a worthy successor rather than rushing production.

The film’s cultural impact extends beyond streaming metrics. It introduced broader audiences to K-pop elements while celebrating Korean heritage through storytelling, music and visuals. Kang, a Korean-Canadian filmmaker, has spoken about creating the project for her younger self, emphasizing representation and empowerment for young viewers.

As award season continues — with potential Oscar buzz lingering — attention shifts to how Sony and Netflix navigate the sequel’s development. No official greenlight or detailed timeline has been announced beyond Kang’s tempered outlook.

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For now, fans can revisit the original on Netflix, stream the soundtrack topping charts or engage with fan creations. Kang expressed gratitude for the support, noting the “whirlwind” response has been overwhelming yet grounding.

While a sequel appears inevitable given the film’s unprecedented success, the road ahead underscores the patience required in animation. As Kang put it, the wait may be long, but the promise of bolder adventures could make it worthwhile.https://www.youtube.com/watch?v=-tdLYsc-KBY

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Form 144 Hinge Health For: 23 February

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Form 144 Hinge Health For: 23 February

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Supreme Court to hear ExxonMobil, Suncor challenge to Colorado climate lawsuit

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Supreme Court to hear ExxonMobil, Suncor challenge to Colorado climate lawsuit

The U.S. Supreme Court has agreed to take up a climate lawsuit that pits local governments in Colorado against global energy giants ExxonMobil and Suncor.

The high court on Monday officially decided to put the case on its calendar after the energy companies filed a petition to determine whether federal law prevents state-law claims for interstate emissions.

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The petition was filed after a May 2025 Colorado Supreme Court decision in the case affirmed the power of local jurisdictions to seek compensatory relief for climate-related damages within state courts.

In this case, the local governments of the City of Boulder and Boulder County are seeking monetary damages for environmental harm such as wildfires and floods, alleging the defendants misled the public about the climate risks associated with fossil fuels.

FEDERAL JUDGE BLOCKS RELEASE OF JACK SMITH REPORT’S SECOND VOLUME

People walk past the US Supreme Court in Washington, DC

The U.S. Supreme Court on Monday agreed to take up a climate lawsuit that pits local governments in Colorado against global energy giants ExxonMobil and Suncor. (Mandel Ngan/AFP via Getty Images, File)

The Colorado Supreme Court ruled that the case could proceed in state court after the energy companies argued unsuccessfully that the claims were preempted by federal law, specifically the Clean Air Act, or should be governed exclusively by federal common law.

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The U.S. Supreme Court building at night

The U.S. Supreme Court building is seen at night in this undated photo. (iStock)

TRUMP SAYS SUPREME COURT RULING AGAINST BIRTHRIGHT CITIZENSHIP ORDER WOULD BENEFIT CHINA

While the Colorado Supreme Court allowed most claims, including public nuisance, trespass and unjust enrichment, to move forward, it dismissed a specific consumer protection claim as time-barred.

The facade of the U.S. Supreme Court in Washington.

The facade of the U.S. Supreme Court in Washington, D.C., on Oct. 3, 2024. (Valerie Plesch/picture alliance/Getty Images)

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A dissenting justice, however, warned that the ruling could create a chaotic patchwork of local regulations on an issue that is inherently international in scope.

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The Supreme Court will hear oral arguments in the case during its next term, which begins in the fall.

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Caerphilly industrial tools venture Spotnails eyeing expansion on new funding deal

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It has secured a new funding facility from HSBC and the Development Bank of Wales

Spotnails deal: Donagh Kenny, HSBC UK; David Perez, Development Bank of Wales; Craig Bates, Spotnails; Kabitah Begum, Development Bank of Wales.

Leading importer and distributor of industrial tools, nails and fasteners for the UK construction sector, Spotnails, has secured a near £3m new debt facility to supports its expansion. The Caerphilly-based company, which has operated for more than 70 years, has received a £1.7m loan from HSBC UK and a £1.2m loan from the Development Bank of Wales.

The refinance allows Spotnails to restructure existing facilities, including the buyout of earlier development bank equity, while sustaining its long-term relationship with both lenders.

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This latest investment marks the continuation of a partnership with the development bank which began in 2019, when it provided £1.7m to support a management buyout enabling managing director Craig Bates to acquire the company from its previous owners. A £500,000 equity warrant followed in 2023 to help accelerate the company’s expansion plans.

READ MORE: Construction work starts on two new campuses for Cardiff and Vale CollegeREAD MORE: New collaboration formed between leading Welsh engineering firms

The development bank has provided patient capital and strategic support that has underpinned Spotnails’ evolution – from the management buyout through to its current growth phase.

The new capital provides Spotnails with fresh scope to grow, following a recent move to a larger warehouse, the recruitment of two additional staff, and the launch of a new e‑shop.

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Managing director Mr Bates, said: “The development bank has been really good to us over the last six years. This new joint investment with HSBC UK gives us the headroom we need to continue expanding and to pursue sustainable growth.

“We needed to restructure our funding, and were keen to maintain our link with the development bank given the strength of our relationship with them to date, and the value that relationship has added to our business. It’s a win‑win all round.”

Kabitah Begum, senior portfolio executive at the Development Bank of Wales, said: “We’re pleased that our long-term relationship with Spotnails has helped put the business in a strong position for further growth. This joint funding package with HSBC UK enables us to continue our partnership following what would otherwise have concluded a successful cycle of investment.

“Our £1.2m loan, delivered alongside HSBC UK’s support, gives Spotnails the platform to keep expanding, and we look forward to continuing our work with them as a long-term partner, providing value over and above our investment.”

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Donagh Kenny, relationship manager at HSBC UK, said: “Spotnails has spent more than seven decades building a strong heritage in the Welsh construction sector, so it’s great to be able to back a business whose longstanding history continues to shape its ambition for the future. This joint funding package gives the company the headroom to keep evolving and investing with confidence. We’re proud to work alongside the Development Bank of Wales to help drive the next chapter of Spotnails’ growth.”

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V2X surges on earnings beat and upbeat 2026 outlook

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V2X surges on earnings beat and upbeat 2026 outlook

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Vanda Pharmaceuticals: Soaring On Bysanti Approval, But You Shouldn't Feel Dizzy

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Vanda Pharmaceuticals: Soaring On Bysanti Approval, But You Shouldn't Feel Dizzy

Vanda Pharmaceuticals: Soaring On Bysanti Approval, But You Shouldn't Feel Dizzy

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Form 144 Enpro Inc. For: 23 February

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Form 144 Enpro Inc. For: 23 February

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MoneySuperMarket owner Mony Group reports record revenues driven by energy switching surge

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Mony Group recorded its highest ever revenues of £446 million in 2025, with its home services division surging by a third thanks to increased energy switching activity among UK households

A man looks at his iPhone which displays the MoneySuperMarket logo

MoneySuperMarket’s parent firm Mony Group reported a pre-tax profit of £80.7 million for 2025(Image: Alamy/PA)

The parent company of MoneySuperMarket has revealed it capitalised on a surge of households switching their energy deals last year, helping counterbalance weaker car insurance activity amid declining prices.

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Mony Group, which also operates brands including MoneySavingExpert and Quidco, posted its highest ever revenues of £446 million for 2025 – up 2% on the previous year.

The business highlighted a stronger performance within its home services division, which jumped by a third over the year, largely due to increased energy switching activity.

This reflected more energy suppliers opting to join the platform to attract customers following Ofgem’s price cap announcements.

MoneySuperMarket is a price comparison website that operates by receiving a payment from the firms that list on the platform.

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It also benefited from an 8% rise in its revenues for its money arm, thanks to more customers switching credit cards and stronger demand for savings and ISA comparisons.

This helped offset weaker sales for its insurance arm – the division that generates the most revenues – which were down by 1% year-on-year.

MoneySuperMarket, which has a Manchester tech hub, was affected by fewer people searching for car insurance deals in a year that premiums fell by approximately 9% on average.

The firm had benefited from a surge in insurance revenues in 2024 when soaring premium prices drove higher levels of switching.

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Deeside-basedMony Group reported a pre-tax profit of £80.7 million for 2025, roughly 1% higher than the prior year. Meanwhile, the firm said opportunities to harness artificial intelligence (AI) were “powering” it into 2026.

It recently unveiled a price comparison app on AI chatbot ChatGPT, enabling people to obtain car insurance estimates or search for other household deals.

Peter Duffy, Mony Group’s chief executive, said: “2025 was another year of great progress for the group and we’re delighted to have helped households save an estimated £2.8 billion.

“Our leading data and tech architecture, combined with the power of our brands, has positioned us exceptionally well to harness the opportunity of AI, and is powering our momentum as we head into 2026.”

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GM recalls over 43,000 Chevrolet, GMC, Cadillac SUVs over transmission issue

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GM recalls over 43,000 Chevrolet, GMC, Cadillac SUVs over transmission issue

General Motors is recalling more than 43,000 Chevrolet, GMC and Cadillac SUVs due to a transmission issue that could potentially increase the risk of a crash.

The recall affects 17,178 Chevrolet Tahoes, 7,616 Chevrolet Suburbans, 7,820 GMC Yukons, 5,270 GMC Yukon XLs, 3,609 Cadillac Escalades and 2,239 Cadillac Escalade ESVs, all from model year 2022.

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All models under the recall are equipped with a 10-speed transmission with an electronic transmission range select system, GM said.

NISSAN RECALLS OVER 640,000 VEHICLES FOR ENGINE AND GEAR ISSUES

A 2022 Chevy Tahoe.

A model year 2022 Chevrolet Tahoe is seen driving. (Chevrolet )

The recall report, filed with the National Highway Traffic Safety Administration, said a transmission control valve in some of the vehicles could be susceptible to excess wear over time, which may lead to a gradual loss of pressure. Drivers may notice harsh shifting if their vehicle is affected by the issue.

In rare cases, the rear wheels may experience a brief lockup or may remain locked, increasing the risk of a crash, the report said.

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A model year 2022 Chevrolet Tahoe seen parked outside. (Chevrolet / Fox News)

NISSAN RECALLING OVER 26,000 VEHICLES DUE TO DOOR ISSUE THAT COULD INCREASE RISK OF CRASH

Dealers will install new transmission control module software that will monitor valve performance and detect excessive wear, the automaker said. If a potential issue is found, the transmission will be limited to fifth gear to prevent the potential of a wheel lockup.

General Motors HQ

The General Motors world headquarters office is seen at Detroit’s Renaissance Center.  (Paul Hennessy/SOPA Images/LightRocket via Getty Images)

Letters to owners notifying them of an available remedy will be mailed on March 30.

CHRYSLER RECALLS OVER 80K VEHICLES DUE TO SPRINGS THAT MAY DETACH WHILE DRIVING

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“The safety of our customers is the highest priority for the entire GM team, and we’re working to remedy this matter as quickly as possible,” a GM spokesperson told FOX Business.

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OpenAI CEO Sam Altman calls Elon Musk’s space data centers ‘ridiculous’

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OpenAI CEO Sam Altman calls Elon Musk's space data centers 'ridiculous'

OpenAI CEO Sam Altman dismissed the idea of data centers in space being a viable option in the next few years as SpaceX CEO Elon Musk pursues their deployment.

“I honestly think the idea with the current landscape of putting data centers in space is ridiculous,” Altman said in an interview with Indian Express. “It will make sense someday.”

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Altman said that space-based artificial intelligence (AI) data center projects would have to deal with high launch costs as well as operational and maintenance challenges, like how to fix a broken or damaged component while the data center is in orbit.

“We are not there yet. There will come a time. Orbital data centers are not something that’s going to matter at scale this decade,” Altman said in the interview.

DATA CENTERS IN OUTER SPACE EMERGE AS SOLUTION TO AI’S MASSIVE ENERGY REQUIREMENTS

Sam Altman holds cup while on lunch break at conference in Washington, D.C.

OpenAI CEO Sam Altman said that while space-based data centers may be viable in the future, they aren’t likely to be deployed at scale this decade. (Ken Cedeno/Reuters / Reuters)

SpaceX’s Musk said earlier this month at an event announcing SpaceX’s acquisition of xAI that the energy demands of AI will require moving data centers to space because of the strain it puts on the environment.

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“In the long term, space-based AI is obviously the only way to scale,” Musk said. “My estimate is that within 2 to 3 years, the lowest cost way to generate AI compute will be in space.”

SpaceX’s merger with xAI, the AI company Musk founded that went on to acquire the X social media platform, aims to create a more than $1 trillion company ahead of a planned initial public offering that will enable them raise capital and speed up plans to deploy data centers in space.

SPACEX ACQUIRES XAI IN RECORD-SETTING DEAL VALUED AT OVER $1T

Elon Musk in a thoughtful repose with his finger on his chin

SpaceX CEO Elon Musk sees space-based data centers as a solution to environmental challenges they pose on Earth. (Marc Piasecki/Getty Images / Getty Images)

SpaceX recently filed a document with the Federal Communications Commission requesting to launch up to 1 million satellites that would function as data centers in Earth’s orbit.

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Musk said in a memo outlining his plans that SpaceX aims to put a million tons of satellites into orbit per year with 100 kilowatts of compute power per ton, adding 100 gigawatts of AI computing capacity per year.

DATA CENTER BOOM POWERING AI REVOLUTION MAY DRAIN US GRIDS – AND WALLETS

SpaceX launches Starship on May 27, 2025

SpaceX is planning a constellation of satellites that can serve as space-based data centers. (Joe Skipper/Reuters)

Other tech companies pursuing space-based data centers include Google, as CEO Sundar Pichai told “Fox News Sunday” that the company could put solar-powered data centers in space as soon as next year as part of what’s known as Project Suncatcher.

Amazon Web Services CEO Matt Garman said at the Cisco AI Summit earlier this month, “there are not enough rockets to launch a million satellites yet, so we’re, like, pretty far from that.” 

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“If you think about the cost of getting a payload in space today, it’s massive,” Garman added. “It is just not economical.”

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