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US 30-year mortgage rates climbs to 6.46%, highest in nearly 7 months; homebuyers face fresh cost pressure

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US 30-year mortgage rates climbs to 6.46%, highest in nearly 7 months; homebuyers face fresh cost pressure

The average long-term US mortgage rate has climbed for the fifth consecutive week, reaching its highest level in nearly seven months and adding to affordability challenges for homebuyers during the crucial spring housing season, according to AP.The benchmark 30-year fixed mortgage rate rose to 6.46% from 6.38% last week, mortgage buyer Freddie Mac said. A year ago, the average rate stood at 6.64%.The last time the average rate was higher was on September 4, when it was recorded at 6.5%.Rising mortgage rates can significantly increase monthly payments for buyers, often adding hundreds of dollars in costs and limiting purchasing power in an already strained housing market.Just five weeks ago, the average rate had dipped to just under 6% for the first time since late 2022, but it has since reversed course. The uptick comes as surging oil prices linked to the Iran war have heightened concerns around inflation.Meanwhile, borrowing costs on 15-year fixed-rate mortgages, commonly used for refinancing, also edged higher. The average rate rose to 5.77% from 5.75% last week, compared with 5.82% a year ago, Freddie Mac said.

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Govt rolls out measures to cushion Gulf trade hit: DGFT

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Govt rolls out measures to cushion Gulf trade hit: DGFT

The government has introduced a series of measures to support exporters facing disruptions from the ongoing Gulf conflict, with key sectors such as gems and jewellery, rice and pharmaceuticals under pressure, PTI reported.At an inter-ministerial briefing, Director General of Foreign Trade Lav Aggarwal said the commerce ministry is working with insurers and banks to address rising war-risk insurance and trade finance concerns.India’s exports to the Gulf region — including the UAE, Saudi Arabia, Oman, Bahrain, Qatar and Kuwait — were valued at about $57 billion in 2024-25, while total bilateral trade stood at $178 billion during the period.Aggarwal said exporters are facing logistical and financial challenges, with higher freight costs, vessel rerouting and disrupted payment channels impacting shipments. Sectors such as petroleum products, chemicals, engineering goods, rice, pharma and gems and jewellery are among the worst hit.He added that the region remains the largest agri-export destination for basmati rice, marine products and fresh produce, but rising air and sea freight costs are affecting shipments of perishable goods.For the gems and jewellery sector, the Gulf Cooperation Council serves both as a key export market and sourcing hub. Gold jewellery exports are under stress, while sourcing of gold bars and rough diamonds has also been disrupted.Engineering exports are facing additional pressure due to war-risk surcharges imposed by shipping lines, while LPG and PNG supply disruptions are affecting foundry, forging and machining units. Aluminium supply constraints and restricted access at key Gulf ports are also adding to the strain.Pharmaceutical supply chains are under stress due to disruptions in critical inputs, while MSMEs are grappling with raw material shortages.To manage the situation, the commerce ministry has set up an inter-ministerial group on March 2 to assess and coordinate the trade impact of the West Asia conflict. The group has held 20 meetings so far, with a dedicated sub-group focusing on facilitating perishable cargo movement.“The group continues to monitor the evolving situation and ensure effective inter-ministerial convergence to support trade,” Aggarwal said.

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RBI allows Rupee exchange at airport departure counters beyond immigration

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RBI allows Rupee exchange at airport departure counters beyond immigration

The Reserve Bank of India has allowed both residents and non-residents to exchange Indian rupee notes at foreign exchange counters located in departure halls of international airports beyond immigration or customs checkpoints, according to PTI. Earlier, such counters were permitted only to buy Indian rupees from non-residents and sell foreign currency to them. “On a review, it has been decided to allow residents (along with non-residents) to exchange Indian rupee notes at foreign exchange counters at the departure halls in the international airports established in the duty-free area or security hold area beyond the immigration or customs desk,” the RBI said in a circular. The central bank added that the Master Direction on Money Changing Activities is being amended to reflect this change.

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West Bengal poll chaos: Villagers hold SIR officers ‘hostage’, EC asks NIA to probe case | India News

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West Bengal poll chaos: Villagers hold SIR officers 'hostage', EC asks NIA to probe case

The Election Commission on Thursday transferred the probe into the gherao of judicial officers dealing with cases related to the Special Intensive Revision (SIR) in West Bengal’s Malda to the National Investigation Agency (NIA).A spokesperson for the poll body said an NIA team is expected to arrive in the poll-bound state on Friday to begin the probe.“…In this regard, I am directed to request that the necessary inquiry/investigation into the matter be conducted and a preliminary inquiry report be submitted directly to the Hon’ble court as per the above directions,” the EC said told the NIA DG through a letter. The Supreme Court on Thursday criticised the West Bengal administration for its “complete failure” and inaction over the “deplorable” gherao and attack on seven judicial officers in Malda district during the electoral rolls revision drive.The court directed that the incident be investigated by either the CBI or the NIA and also ordered the deployment of central forces in the state.The strong response followed reports that the officers, including three women, were detained in Malda by a group of voters whose names had been removed from the electoral rolls.The court observed that it was incumbent upon the Mamata Banerjee-led state government to inform the Election Commission and seek the deployment of central forces to ensure the safety of the judicial officers. It also permitted the Election Commission to request either a CBI or NIA probe into the incident.The incident occurred during the ongoing Special Intensive Revision (SIR) of voter lists. Seven judicial officers, including three women, were surrounded and held hostage for several hours by protesters.Officials said the protest began outside the Kaliachak II Block Development Office when a group of people demanded a meeting with the officers. After they were denied entry, the crowd began demonstrating around 4.00 pm and later blocked the premises, with the protest continuing late into the night.Following the incident, West Bengal CM Mamata Banerjee accused the Bharatiya Janata Party of attempting to engineer the cancellation of the West Bengal polls and impose President’s rule in the state. Addressing a rally in Sagardighi, she also criticised the Election Commission for failing to maintain law and order.Voting for the 294-member West Bengal Assembly will be conducted in two phases on April 23 and April 29, while the counting of votes will take place on May 4.In the 2021 Assembly elections, held in eight phases, the Trinamool Congress won 213 seats in a decisive victory over the BJP, which secured 77 seats. The Congress and the Left Front did not win any seats in that election.

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‘Make a deal before it’s too late’: Trump warns Iran, shares video of Karaj bridge ‘tumbling down’

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President Donald Trump on Thursday issued a fresh warning to Iran, urging Tehran to strike a deal “before it is too late,” even as US strikes targeted key infrastructure, and major bridge near the capital.Posting on Truth Social, Trump shared a video of Karaj bridge being hit in Iran. “The biggest bridge in Iran comes tumbling down, never to be used again, Much more to follow!” he wrote.

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Iran Drops CHILLING Video Claiming US Base Hit In Jordan, Sparks Fears Of Wider Middle East Conflict

He added a direct warning to Tehran saying, “It is time for Iran to make a deal before it is too late, and there is nothing left of what still could become a great country!”The remarks came after US strikes reportedly hit a major highway bridge connecting Tehran to Karaj. Iranian media described it as one of the highest bridges in the Middle East.The structure, identified as the B1 bridge in Karaj, was still under construction and was part of a key highway project linking the region to the capital. The 136-metre-high bridge was partially destroyed in the attack, according to Iranian state media.Several people were reported injured in the strike, which Tehran said was carried out by the United States and Israel.Iranian authorities also claimed that a historic medical facility in Tehran was struck. Images released by the health ministry showed significant damage to a building identified as the Pasteur Institute of Iran, a century-old research centre.The latest strikes come amid intensifying hostilities in the region, with Washington stepping up pressure on Tehran while continuing military operations. Trump’s warning signals a hardening stance, as the US pushes for a deal even as the conflict widens on the ground.

Stay updated with our Live Blog for minute-by-minute coverage of the Israel Iran War including breaking news, missile attacks, and Middle East crisis Latest Updates

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Govt does U-turn on 60% free seating order for airlines; puts it in abeyance

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Govt does U-turn on 60% free seating order for airlines; puts it in abeyance

NEW DELHI: In a U-turn, the civil aviation ministry Thursday put on hold its directive for airlines to offer at least 60% seats free of charge. Under intense cost side pressure since the Iran war began, airlines had warned this move to curb ancillary revenue will lead to additional fare hikes.The aviation ministry had on March 17 ordered the Directorate General of Civil Aviation (DGCA) to enact rules mandating the same. Following that, the regulator had amended existing rules to implement at least 60% free seating from April 20.On Thursday, the ministry again wrote to DGCA asking it to keep its earlier order in abeyance. “The matter has been reviewed in light of representations received from the Federation of Indian Airlines (IndiGo, Air India group and SpiceJet) and Akasa Air, highlighting operational and commercial implications of the above provision, including its potential impact on fare structures and consistency with the prevailing deregulated tariff regime,” it said referring to the lobbying by the carriers.“….it has been decided that the provision relating to offering at least 60% of seats free of charge shall be kept in abeyance till further orders,” the order said.However, the Thursday order reiterated that “DGCA may, however, ensure continued enforcement of other passenger facilitation measures… including transparency in seat allocation, co-seating of passengers on the same PNR, carriage of musical instruments, sports equipment & pets and clear disclosure of applicable charges.”Airline said that paid seat selection is an ‘opt-in’ service designed for passengers who prioritise specific preferences. “Free seats create a cross-subsidy, where costs of ‘free’ seats are indirectly absorbed by other value conscious customers. Also, seat selection would be counterproductive for families or elderly passengers as all good seats would be allocated by passengers booking first hence leaving a low number of seats available for such people,” an industry executive said.

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No permit, no pass: Iran plans new navigation regime in Strait of Hormuz

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No permit, no pass: Iran plans new navigation regime in Strait of Hormuz

Iranian deputy foreign minister Kazem Gharibabadi on Thursday said that Tehran has nearly completed its first draft to establish a new navigation regime in the Strait of Hormuz.In an interview with the Sputnik, Gharibabadi said that Tehran is planning to begin talks with Oman to develop a joint solution.

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‘New Fronts’: Iran’s Supreme Leaders Warning Sends Shockwaves Across The World | Watch

“The draft of this protocol is currently in the final stages of preparation. Once we have it ready, we will begin negotiations with Oman so that we can draft a joint protocol,” Gharibabadi said.Gharibabadi said that the new protocol will require all vessels to have necessary agreements with the coastal states – Iran and Oman. He added that security of the strait will be ensured, and Iran and Oman will bear greater responsibility for it.The requirements will not be applied in the form of restrictions, but rather with the aim of facilitating traffic and ensuring the safe passage of ships, as well as providing services to ships wishing to pass through the Strait of Hormuz without any problems, the deputy foreign minister said.

Stay updated with our Live Blog for minute-by-minute coverage of the Israel Iran War including breaking news, missile attacks, and Middle East crisis Latest Updates

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Good Friday 2026 in US: What’s open and closed on April 3; Check banks, USPS, UPS, FedEx services status

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Good Friday 2026 in US: What’s open and closed on April 3; Check banks, USPS, UPS, FedEx services status

As the US observes Good Friday on April 3 ahead of Easter Sunday on April 5, most essential services will continue without disruption since the day is not designated as a federal holiday.In the Christian calendar, Good Friday marks the crucifixion and death of Jesus Christ and has long been associated with mourning, penance and fasting. Easter Sunday, which follows, celebrates the resurrection and comes at the end of the 40-day Lent period. The dates shift annually as part of the liturgical cycle of “moveable feasts”.

USPS services on Good Friday 2026

Operations at the United States Postal Service will proceed as usual. Postal counters will be open and regular mail delivery schedules will be maintained across the country.

Bank operations on April 3

Commercial banks are expected to function normally, given that Good Friday is not a federal holiday in the US. Branch-level timings, however, may differ, and customers may need to verify with local offices.

UPS delivery and store status

Services offered by UPS, including pickups and deliveries, will continue as per routine schedules. UPS Store outlets will also remain operational.

Will FedEx services remain operational on Good Friday?

FedEx will run standard delivery and pickup operations, with its office locations open for customers on April 3.

Other services and closures

Federal offices will remain open, though select state or local government entities may choose to observe the day. Retail outlets, restaurants and transport systems are expected to function normally. School schedules may vary depending on whether institutions observe the religious holiday.With no nationwide shutdown in place, Good Friday in the US typically sees continuity in banking, logistics and public services, even as it holds religious significance ahead of Easter weekend.

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Corporate recruiter says: Amazon, Meta, Google, Microsoft and now Oracle has laid off in thousands; what employees fail to realise is that what actually matters is …

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Corporate recruiter says: Amazon, Meta, Google, Microsoft and now Oracle has laid off in thousands; what employees fail to realise is that what actually matters is ...

As Oracle has joined the list of Amazon, Meta, Google and Microsoft in cutting thousands of jobs, a corporate recruiter has issued a blunt reminder to employees: loyalty and good performance don’t guarantee job security. According to reports, nearly 30,000 Oracle employees learned of their layoffs through early-morning emails, underscoring the suddenness of such decisions. Shreya Mehta a recruiter in a long LinkedIn post has noted that manu affected workers believed they were safe because of Oracle’s size and stability. But, as with other tech giants, layoffs are often budget decision made in rooms employees will never be in.

Recruiter reveals three important lessons for workers

The recruiter emphasised three key lessons for workers navigating today’s volatile job market:

  • Your job isn’t as stable as it feels. Even promotions or strong performance don’t shield employees from corporate restructuring.
  • Preparation is critical. Workers should keep resumes updated, maintain active LinkedIn profiles, and nurture professional networks.
  • Real security lies in adaptability. The ability to land roles across companies and industries is more valuable than loyalty to a single employer.

While the recruiter’s post struck a sobering tone, it also offered practical advice: workers should prepare now rather than wait for a layoff notice. “If you got laid off tomorrow, could you land in 60 days? If not, that’s the problem to fix,” the post read.

Read the recruiter’s complete post here

You check your phone at 6 AM. There’s an email. “You’ve been laid off”.That’s how 30,000 Oracle employees found out this morning.Just an email waiting for them when they woke up.And most of them probably thought they were safe.Oracle is huge. The kind of company where people plan to stay for years.But none of that mattered.I’ve been watching this pattern for months now. Amazon laid people off. Meta did it. Google, Microsoft, and now Oracle.Big companies that everyone thinks are stable. And thousands of people are getting let go overnight.Most of the people affected were not ready. They thought their job was secure. They thought doing good work would protect them. They thought loyalty mattered.It doesn’t.Here’s what actually matters:→ Your job isn’t as stable as it feelsEven if you’re doing great work. Even if you just got a promotion. Even if the company seems solid.Layoffs are budget decisions made in rooms you’ll never be in.→ Don’t wait until it happens to prepareUpdate your resume now. Keep your LinkedIn current. Stay in touch with your network. Know what you’re worth outside this company.If you got laid off tomorrow, could you land in 60 days? If not, that’s the problem to fix.→ The only real security is being good enough to land anywhereNot just where you are now. Anywhere.I’m not trying to scare you. I just don’t want you opening a 6 AM email unprepared.Repost if someone needs to see this.Drop a comment if you were impacted by this layoff. There are recruiters and hiring managers in my connections who might be hiring for relevant roles.

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3 major NHs passing through Delhi to be made signal-free: Govt

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3 major NHs passing through Delhi to be made signal-free: Govt

New Delhi: Centre will make three major NH stretches passing through Delhi largely signal free to reduce congestion and travel time, the road transport ministry informed the Lok Sabha on Thursday. While the NH stretches from Ashram to Badarpur, Mehrauli to Gurgaon and Punjabi Bagh to Tikri Border will be mostly signal free by building flyovers, an interchange will be built at Kalindi Kunj intersections for seamless traffic flow.Responding to a supplementary question in the LS, minister of state in road transport ministry and East Delhi MP, Harsh Malhotra said that National Highways Authority of India (NHAI) is preparing the detailed project reports for the three NH stretches. “Three flyovers will be built on Ashram-Badarpur stretch to make it mostly signal free. Currently, because of congestion, it takes around one to one-and-a-half hours. This travel time will be reduced. Similarly, travel time between Mehrauli and Gurgaon will be reduced to barely 15 minutes instead of the current one hour after this stretch becomes signal free,” Malhotra said in response to a question from South Delhi MP Ram Vir Singh Bidhuri.The minister also said that the Punjabi Bagh to Tikri Border stretch of the NH passing through Delhi will be made largely signal free by building flyovers at major junctions. He added this will bring down the travel time to barely 30 minutes compared to the current one-and-half hours. “Similarly, we will make the intersection at Kalindi Kunj signal free by building an interchange similar to the one at Dhaula Kuan. Six roads intersect at Kalindi Kunj. We are hopeful of the DND-Faridabad stretch of Delhi-Mumbai expressway becoming operational in next six months,” Malhotra said.Giving another update on the NH projects in NCR, the minister said that Delhi-Dehradun Economic Corridor will be made fully operational in the next 8-10 days. The corridor will bring down travel time from Delhi to the hill capital to less than two-and-half hours.

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