Home loan applications hit three-decade low
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 8 September 2023
⏱️ 1 minutes
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Summary
Applications fell nearly 30 percent compared to a year ago; Kroger will pay $1.2 billion to settle opioid claims; Biden heads to G20 meeting in India; Walmart ends higher pay for some new hires.
Transcript
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| 0:16.4 | Home loan applications are at a 3-decade low. |
| 0:20.0 | I'm Novosafo with the Marketplace Minute. |
| 0:22.5 | 1995 was the last time the Mortgage Bankers Association's index of application volume |
| 0:28.8 | was as low as it registered last week. |
| 0:31.2 | Applications plummeted nearly 30% compared to a year ago, |
| 0:34.9 | with not enough homes available for purchase and interest rates at two-decade highs. |
| 0:40.1 | The Kroger supermarket chain is paying more than a billion dollars to settle claims tied to |
| 0:44.5 | opioid prescriptions filled by in-store pharmacies. |
| 0:47.9 | The company said it will make the payments over 11 years and that they're tax deductible. |
| 0:52.8 | President Biden is in India this weekend for a summit of G20 leaders. |
| 0:56.5 | On the table is a potential infrastructure deal to move cargo between Middle East countries |
| 1:01.1 | India and Turkey. |
| 1:03.0 | And Walmart has changed its wage structure for entry-level store workers, |
| 1:06.8 | reportedly ending a recent practice of paying more for certain new hires. |
| 1:11.6 | The move suggests workers bargaining power is waning. |
| 1:15.3 | I'm Novosafo with the Marketplace Minute. |
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