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Morning Brew Daily
Meta’s Most Advanced AR Glasses Ever & Everyone is Refinancing Their House
Sep 26, 2024
In this discussion, Harris, a prominent political figure focused on economic strategies, and Trump, a former president emphasizing economic improvement, delve into their plans to rejuvenate the American economy. They touch on Meta's groundbreaking AR glasses that could redefine smartphone usage. With the fall in mortgage rates leading to a refinancing boom, they also discuss the changing dynamics of the housing market. Lastly, insights on the trend of smaller portion sizes in restaurants reflect shifting consumer attitudes.
32:22
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Quick takeaways
- Meta's introduction of Orion AR glasses signifies a potential shift away from smartphones, highlighting their focus on mixed reality innovation.
- A surge in refinancing applications reflects homeowners capitalizing on lower mortgage rates, while high home prices and low inventory stifle new purchases.
Deep dives
Mortgage Rate Trends and Housing Market Outlook
Mortgage rates have recently decreased, with the average 30-year fixed rate falling to 6.09%, marking the lowest level since February 2023. Despite this decline, home prices remain high and inventory is significantly lower than pre-pandemic levels, keeping the housing market largely inactive. Most of the activity in the mortgage sector is occurring in refinancing applications, which have surged, accounting for more than 57% of all applications as homeowners take advantage of lower rates. The persistently high housing prices and low inventory indicate that while refinancing is booming, home buying remains stalled as many choose to stay put due to their existing low mortgage rates.
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Discover
highlights
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