And now to some of the other business headlines,
you need to know some welcome news for potential home
buyers. Mortgage rates have dropped below 7% for the
first time since the middle of August Freddie Mac reports
that the average rate for a 30 year fixed mortgage
was 6.95% for the week ending today. Down from
7.3% the previous week, but it's still up from
6.31% a year ago. Freddie Mac's chief economist said
the housing market could begin to thaw next year due
to slowing inflation and expectations that the fed will lower
interest rates next year.