Month: August 2023

Tropical Storm Hilary made landfall Sunday in the northern part of Mexico’s Baja California peninsula, as National Hurricane Center warned “catastrophic and life-threating flooding” in that region , including across portions of the southwestern United States. The National Weather Service said that Hilary was downgraded to a tropical storm as rain from the storm started spreading in Southern California. The storm will make history as the first tropical storm to hit Southern California in 84 years.

By the time Hilary reaches California, it is forecast to have downgraded to a tropical storm, which is defined as having winds of at least 39 mph, according to the National Weather Service. California Gov. Gavin Newsom on Saturday declared a state of emergency ahead of Hilary’s expected landing later Sunday; It is the first time ever that the National Hurricane Center to issue a tropical storm warning for Southern California, and Los Angeles county officials held a press conference saying they were expecting 1 to 3 inches of rain and wind speeds of 20 to 30 mph. Forecasters warned of “life-threatening” flooding in areas not known for rainfall and said strong winds might down trees and power lines, with tropical storm conditions in the southwestern U.S. and gusty winds expected to spread well inland. The National Hurricane Center said large swells are expected to affect portions of the Baja California peninsula as well as southern California over the next several days.

The California Department of Parks and Recreation on Saturday ordered a temporary closure of all San Diego and Orange County state beaches and several state parks, and Disneyland parks closed early on Sunday. California State Parks announced that all state beaches in San Diego and Orange counties would be closed Sunday and Monday, while the National Park Service closed the Joshua Tree National Park, located east of Palm Springs, through Monday evening over fears of flash flooding. The San Diego Padres, Los Angeles Dodgers and Los Angeles Angels moved all their Sunday games to Saturday double-headers in anticipation of the storm.

Other parts of the southwestern U.S. were preparing, with the National Weather Service in Las Vegas warning on Sunday that strong winds were likely, as well as flash flooding. Widespread “moderate to heavy” rain is expected into early Monday for Southern California, with a high risk of flash flooding that could include “landslides, mudslides and debris flow” in mountains and deserts, and according to the National Weather Service some areas had at least a 70% chance of experiencing flash flooding.

A White House spokesperson said that President Biden had been briefed on Hilary and that his team was working “with state and local agencies ahead of the storm.” The president and first lady Jill Biden are slated to travel to Hawaii Monday to survey the destruction from the Maui wildfires.

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Nine people were shot after multiple gunmen opened fire on a crowd at a block party in West Philadelphia on Saturday, killing one person and wounding eight others.

The shooting happened at about 1:30 a.m. Saturday in the city’s Parkside neighborhood, in the 500 block of N. Creighton Street, with at least 38 shots fired into the crowd. Philadelphia Police Captain Anthony Mirabella Jr. said: “Emergency 911 received numerous calls about a shooting on the highway with numerous victims and numerous gunshots in the area,” adding that many residents were at the block party when the gunfire rang out.

Two victims were rushed to the hospital by police, two others were taken by ambulance, and one of the victims was dropped off by a private vehicle at Penn Presbyterian Hospital. Police say two additional victims arrived at the same hospital about an hour later, and another two teenage victims arrived at the Children’s Hospital of Philadelphia later on Saturday afternoon. The victims include a 19-year-old man who was killed; the injured include two 17-year-old females, two 20-year-old women, two 21-year-old women, a 47-year-old man, and a 51-year-old woman.

Authorities said Saturday’s attack is being investigated although no suspects or motives have been identified, and no arrests have been made. Philadelphia Mayor Jim Kenney said in a statement: “Shootings are down by more than 20% compared to this time last year, but we know that we must continue to work together to stop violence and save lives.”

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On Thursday, the U.S. Treasury Department sanctioned four Russians accused in the poisoning of currently imprisoned Russian opposition politician Alexei Navalny. The Treasury Department said the four individuals were members of Russia’s Federal Security Service, or the FSB (the main successor agency to the Soviet Union’s KGB).

The sanctions targeted Alexey Alexandrovich Alexandrov, Konstantin Kudryavtsev, Ivan Vladimirovich Osipov and Vladimir Alexandrovich Panyaev, all of whom the Treasury said were involved in the assassination attempt. The Treasury said that Alexandrov and Osipov are both FSB Criminalistics Institute operatives who are believed to be among the main perpetrators of the poisonings. Kudryavstev, another operative admitted to his involvement in a cleanup operation after the poisoning while Panyaev reportedly tailed Navalny ahead of the attack.

All four of the individuals were associated with the Russian Federal Security Service, or FSB, and were previously designated in 2021 “for acting for or on behalf of, directly or indirectly for the organization. The Treasury said: “These individuals collaborated to surveil Navalny ahead of the attack, break into his hotel room and apply the chemical weapon to his personal belongings, and they attempted to erase any evidence of their operation following the attack.”

Navalny, one of Russian President Vladimir Putin’s fiercest critics, was poisoned with a Novichok nerve agent while on a plane from Tomsk to Moscow in August 2020. The aircraft diverted to Omsk, where Navalny was hospitalized in a coma. He received treatment and recovered, with samples of his blood and urine taken by representatives of the Organization for the Prohibition of Chemical Weapons. Lab tests revealed the presence of Novichok. Navalny returned to Russia after recovering but was quickly detained on charges, and has been in prison since 2021. He was sentenced to 19 more years in jail on extremism charges earlier this year, with the U.S. claiming the charges “unfounded” and calling for his immediate release.

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U.S. mortgage rates rose to their highest level in 21 years this week, as demand for mortgages decreased.

According to data released Thursday, in the week ending August 17, the 30-year fixed-rate mortgage averaged 7.09% — up from 6.96% the week before (one year ago, the 30-year fixed-rate was 5.13%). The last time rates were over 7% was in November of last year, when they hit 7.08%. This week’s average rate is the highest the 30-year, fixed-rate mortgage has been since April 2002, when it was 7.13%.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 7.16% from 7.09%, with points decreasing to 0.68 from 0.70 (including the origination fee) for loans with a 20% down payment. That was the third straight weekly increase and the highest level since October 2022, which also matches a high level seen in 2001.

As a result, mortgage demand from homebuyers was 26% lower than the same week one year ago. Applications to refinance a home loan fell 2% for the week and were 35% lower than the same week one year ago. Last year the 30-year fixed was 5.45%, but the year before it was in the 3% range.

On the flip side, applications for a mortgage to purchase a newly built home are rising. According to a separate MBA report released Tuesday, applications are up 35.5% in July, with the Federal Housing Administration sharing that those applications hit the highest level since May 2020. FHA loans offer low down payment options and are popular with first-time homebuyers.

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