🌞 Mortgage Rates Prediction

Daily Upsider - Wednesday, January 31st, 2024

AuthorAuthor

James Linder & Julia Mejia
January 31, 2024

Wednesday, January 31st, 2024

Good Morning! 🌞 

Two days ago, we asked you all if you had ever used ChatGPT. Here is what you all said.

  • 70% of you have never used ChatGPT.

  • 13.5% of you use it occasionally.

  • 5.5% of you use it weekly.

  • 11% of you use it daily.

Very interesting results. Thank you all for participating! I always find these polls to be so interesting.

Today’s Upside

Economy

Mortgage Rates Prediction

In its recent economic and housing outlook for 2024, Fannie Mae's Economic and Strategic Research (ESR) Group has provided a more optimistic forecast for the housing market. The ESR Group expects mortgage rates to decline in 2024, ending the year below 6%. This prediction is a result of the easing in mortgage rates and the anticipated thawing of the existing home sales market.

This revised forecast is a significant change from the previous year's projections. The ESR Group's theme for the 2024 housing market is "Housing Seeks Balance Amid Economic Uncertainty." The lower rate environment is expected to boost refinance volumes, which are already on the upswing, as evidenced by the recent uptick in Fannie Mae's Refinance Application-Level Index.

The mortgage rate predictions for 2024 vary among industry experts, with some anticipating rates to be as low as 5.8% by the end of the year. The Federal Reserve's actions and the path of inflation will play a significant role in determining the actual mortgage rates.

The housing market's trend towards stability and affordability in 2024 is encouraging for both homebuyers and homeowners. As mortgage rates trend lower, it may open doors for more people to achieve their homeownership dreams.

Entertainment

Jon Stewart Returns to 'The Daily Show'

Scott Kowalchyk / CBS via Getty Images

Jon Stewart is set to return as the host of "The Daily Show," marking his comeback to the hosting chair after a period of uncertainty following Trevor Noah's departure in 2022. Stewart, who previously hosted the show from 1996 to 2015, will take on the hosting duties on Monday nights until the 2024 election. Following that, he will serve as the executive producer for every episode until the end of the current and next year.

Comedy Central's news release outlines the schedule, mentioning that on days when Stewart is not hosting, "The Daily Show" will feature a team of rotating correspondents. The show airs Monday through Thursday at 11 p.m. ET, with Monday being considered its most-watched day.

Chris McCarthy, the president and CEO of MTV Entertainment Studios, expressed enthusiasm about Stewart's return, referring to him as "the voice of our generation." McCarthy emphasized Stewart's ability to cut through empty rhetoric and provide clarity with his wit.

Stewart, during his previous 16-year tenure as the host, earned two dozen Emmy Awards for "The Daily Show."

World News

2,000 Year-old Beach House Found in Naples, Italy

A three-year project to construct a children’s playground and recreation area south of Naples, Italy, led to the discovery of a 2,000-year-old clifftop beach house. Dating back to the first century, the mansion, possibly belonging to Pliny the Elder, overlooks Ischia and Procida islands, now partially submerged by the sea. The excavation in Bacoli revealed thick perimeter stone walls, 10 large rooms with floors, tiled walls, and panoramic outdoor terraces.

The villa, originally part of the Roman port at Misenum, held strategic military importance with a 360-degree view of the Gulf of Naples. Constructed with ornate diamond-shaped tufa blocks, the walls demonstrated surprising detail. The “negative bradyseism” phenomenon caused parts of the villa to be submerged as the earth's surface gradually descended into the sea. (The phenomenon of "negative bradyseism" refers to a gradual geological process where the earth's surface slowly sinks. This can be due to various natural factors, such as tectonic movements or the extraction of fluids from the ground.)

Ongoing digs aim to uncover more about the beach villa and Misenum's broader structure. The discovery is significant due to limited knowledge about the port of Misenum. Besides its lookout purpose, Pliny's beach villa likely served for leisure, hosting guests at a private dock for lavish parties. Bacoli, within the Phlegraean Fields, was a popular destination for Ancient Romans, known for vacation homes, thermal baths, and spas.

Bacoli's location, with natural geysers and frequent earthquakes, contributed to its historical significance, often regarded as the entrance to the underworld. Pliny the Elder may have witnessed the Mount Vesuvius eruption in AD 79 from the villa, where he later died attempting rescues. While archaeologists were surprised, local speculation about an underground treasure existed. The site will now become an open-air museum, showcasing the Roman villa's ruins. Bacoli's mayor, Josi Gerardo Della Ragione, anticipates the museum's opening in the coming weeks, allowing citizens and visitors to admire the historical findings.

Photo courtesy of Comune Di Bacoli

Sports

Anthony Joshua and Francis Ngannou face off Before March 8 Fight

Action Images via Reuters/Andrew Couldridge

Ngannou questioned Joshua's chin during a press conference promoting their 'Knockout Chaos' fight on March 8 in Saudi Arabia. Ngannou, a former UFC heavyweight champion, will face Joshua at Riyadh's Kingdom Arena. In his pro boxing debut last October, Ngannou narrowly lost to WBC world champion Tyson Fury in a non-title bout, where he almost caused an upset by dropping Fury with a left hook.

"I heard that he doesn't have a chin," Ngannou remarked about Joshua. "I don't know if it's true or not. We're going to find out. I hope I have the opportunity to test that out; that's my wish."

The fight, scheduled three weeks after Fury's bout with Usyk for the undisputed heavyweight title, comes after Joshua lost his belts to Usyk in 2021.

Co-promoter Frank Warren hinted at a potential matchup between the winners of the February and March fights later in the year. The undercard features a WBO interim title fight between Chinese heavyweight Zhilei Zhang and Joseph Parker, who recently defeated Deontay Wilder.

We know weekdays can be hectic, making it challenging to prepare a healthy dinner. Here's a quick and easy one-pot recipe that's guaranteed to be a hit for you and your family. 🍽️ 

Ingredients

  • 1 pound boneless skinless chicken thighs, cut into 1-inch pieces

  • 1 teaspoon salt-free seasoning blend

  • 2 teaspoons olive oil

  • 1 can (14-1/2 ounces) reduced-sodium chicken broth

  • 2 tablespoons lemon juice

  • 1 cup uncooked gemelli or spiral pasta

  • 2 cups fresh broccoli florets

  • 1 cup frozen peas

  • 1/3 cup prepared pesto

    Directions

    1.Toss chicken with seasoning blend. In a large nonstick skillet, heat oil over medium-high heat. Add chicken and brown evenly; remove from pan.

    2.In same pan, combine broth and lemon juice; bring to a boil, stirring to loosen browned bits from pan. Stir in pasta; return to a boil. Reduce heat; simmer, covered, 10 minutes.

    3.Add broccoli; cook, covered, 5 minutes. Return chicken to pan; cook, covered, until pasta is tender and chicken is no longer pink, 2-3 minutes longer, stirring occasionally. Add peas; heat through. Stir in pesto.

Mind Stretchers
âť”

What five-letter word has one left when two letters are removed?

Yesterday’s Answer:
Silence 🤫 

Chris Hostetler got this one first. Nice job Chris!

Be the first to send us the correct answer for today’s mind stretcher for a shout-out with the answer tomorrow. Just send us the answer and your name to [email protected] or reply to the email.

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