But a few more headlines that were following this afternoon
mortgage demand at its lowest level in more than two
decades as interest rates are back on the rise and
new mortgage applications down more than 20% last week compared
to the same time a year ago. A refinance
demand also falling significantly down 75% from the same time
a year ago. And most people who currently have
a mortgage, they have a rate that's actually lower
than the current rate, so that's why they don't
need to refinance. At this point, the supply
of available homes for sales does remain low and further
hampering demand for new mortgages. Okay, well,
a new record for the NFL walmart Air rob Walton
buying the Denver broncos for a reported more than$4.5
billion. It's by far the biggest deal ever for
a sports team in North America and the league must
still approve the transaction. The broncos president and Ceo
joe Ellis saying in a statement that the deal marks
a quote, significant step on the path to an
exciting new chapter end quote for the team. I
know a lot of broncos fans. We have even
seen Jeff Bezos actually considering a potential buy of the
broncos didn't actually go through with it, leave it
to another billionaire to make the move. And Spirit
Airlines postponing its shareholder meeting originally scheduled for friday now
until the end of the month. So this saga
drags on at the airline in the middle of talks
on competing offers from JetBlue and Frontier Airlines, both
of which raised their offers in this past week.
Well, spirit has had a merger agreement in place
with frontier since February and it said that regulators are
unlikely to approve a deal with JetBlue. The offer
from JetBlue, totaling 350 million in potential breakup fees
, while the frontier offer does stand at a total
payout of about 250 million in breakup fees. So
let's take a look at shares the Spirit Airlines,
JetBlue and Frontier. While while we're at it this
afternoon, all of these stocks actually lower today,
along with the broader market, Spirit, the company
that's kind of in the middle of all of this
, that both JetBlue and Frontier one down, Not
as bad as the other two down 2%, but
JetBlue and frontier both down about 4%.