In partnership with

Good morning! Mortgage rates drop to their lowest since May 2023, Costco cracks down on membership card sharing, and Boeing faces scrutiny over an Alaska Airlines safety incident.

We put your money to work

Betterment’s financial experts and automated investing technology are working behind the scenes to make your money hustle while you do whatever you want.

Learn more

ECONOMY

Mortgage Rates Plunge

Mortgage rates in the U.S. have fallen to their lowest level since May 2023, offering potential relief to homebuyers facing a challenging housing market. The decline comes as economic conditions and market dynamics continue to fluctuate.

Here's the breakdown:

• U.S. mortgage rates have reached their lowest level since May 2023, offering some relief to buyers.

• The drop in rates is influenced by economic factors, including inflation and the Federal Reserve’s policies.

• Homebuyers may find this dip in rates advantageous, although affordability challenges remain.

• The housing market is still grappling with high prices and limited inventory, despite lower mortgage rates.

• Analysts are closely monitoring whether this trend will continue or if rates will rebound in the near future.

BUSINESS

Costco Card Sharing

Costco is intensifying its efforts to prevent non-members from using membership cards, implementing stricter verification measures at checkout. The move aims to protect the benefits of paying members and ensure compliance with the company's membership policies.

Here's the breakdown:

• Costco is enforcing stricter measures to prevent membership card sharing among non-members.

• The company has introduced additional verification steps at checkout to ensure compliance.

• Membership card sharing has become a growing concern for Costco, affecting its revenue and member benefits.

• Costco is committed to protecting the value of its membership program for paying customers.

• The new policy changes come as the retailer continues to grow its membership base and protect its business model.

BUSINESS

Boeing Faces Scrutiny

The National Transportation Safety Board (NTSB) is investigating an incident involving an improperly installed door plug on an Alaska Airlines flight, raising concerns about Boeing’s manufacturing and safety processes. The incident highlights ongoing challenges Boeing faces in maintaining quality control across its fleet.

Here's the breakdown:

• The NTSB is investigating an Alaska Airlines incident involving an improperly installed door plug.

• Boeing is under scrutiny for its manufacturing and safety processes, following this and other recent incidents.

• The improperly installed part did not cause any immediate danger but raised significant safety concerns.

• This investigation adds to the series of challenges Boeing has faced in maintaining its reputation and safety standards.

• Boeing has committed to cooperating fully with the NTSB to address any safety issues and improve its processes.

APPENDIX

• An analyst predicts Apple may charge a $20 monthly fee for its upcoming AI-driven service, raising consumer cost concerns. Gizmodo

• Google DeepMind has developed a robot capable of playing table tennis at an amateur level, showcasing advancements in AI and robotics. TechCrunch

• A study links erythritol, a common sugar substitute, to potential blood clotting risks, raising health concerns among consumers. CNN

• Boeing's Starliner spacecraft, still not ready for crewed flights, faces continued delays as NASA and Boeing grapple with safety and technical issues. NY Times

Advertise: Interested in reaching smart readers like you? Become a partner here.