Thu Sep 12 19:16:00 UTC 2024: ## Mixed Skies and Falling Mortgage Rates: Charleston News Roundup

**Charleston, SC** – The Charleston area can expect a mix of clouds and sunshine this morning, transitioning to cloudy skies in the afternoon. There is a slight chance of showers or thunderstorms. The high for today will be 83 degrees, with winds from the northeast at 10 to 15 mph. Tonight, expect cloudy skies with a low of 73 degrees and winds from the north-northeast at 5 to 10 mph.

**Mortgage Rates Hit 19-Month Low**

Nationally, mortgage rates took a dive this week, reaching their lowest point in 19 months. The average rate on a 30-year fixed-rate mortgage dropped to 6.20 percent, down from 6.35 percent last week. This decline is attributed to a pullback in Treasury yields, as investors anticipate an interest rate cut from the Federal Reserve next week.

**American Flight Attendants Ratify New Contract**

American Airlines flight attendants have voted to ratify a new contract, ending a long dispute that even caught the attention of President Joe Biden. The five-year contract includes significant pay increases, up to 20.5 percent on October 1, and annual raises after that. Notably, it also includes pay for boarding time, a first for flight attendants on U.S. airlines.

**Inflation Continues to Cool, Wholesale Prices Rise Slightly**

U.S. wholesale price increases slowed last month, adding further evidence that inflation is cooling. The producer price index rose just 0.2 percent from July to August, with a 1.7 percent increase from a year ago. This suggests that inflation is moving closer to the Federal Reserve’s target of 2 percent.

**DHL Sues MyPillow for Unpaid Bills**

Package delivery company DHL is suing MyPillow, alleging the company owes nearly $800,000 for unpaid bills. The lawsuit alleges that MyPillow has failed to meet its payment obligations under a settlement agreement.

**Jobless Claims Tick Up Slightly, But Layoffs Remain Low**

Slightly more Americans filed for unemployment benefits last week, but layoffs remain at historically low levels despite two years of elevated interest rates. This suggests that the U.S. job market is slowly cooling, but remains strong overall.

**CFPB Bans Navient from Servicing Federal Student Loans**

The Consumer Finance Protection Bureau has proposed an order permanently banning Navient from servicing federal student loans. The agency alleges that Navient engaged in predatory lending practices and will pay a $20 million penalty and $100 million in relief to borrowers.

**Boeing Workers Vote on Strike**

Boeing’s West Coast workers, including 33,000 in the Seattle area, are voting on whether to strike, potentially halting production of the company’s best-selling planes.

**Wall Street Climbs Closer to Record High**

U.S. stocks rose on Thursday, fueled by positive economic reports that were in line with expectations.

**Are Charleston Homes Overvalued?**

Fitch Ratings suggests Charleston homes are overvalued by almost 16 percent. Local real estate agents are advising consumers to be cautious with this data, noting that while prices are rising, the market remains strong.

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