(NEW YORK) — A thaw in the housing market may deliver relief for homebuyers left out in the cold over recent years, analysts told ABC News.
After the pandemic, a rapid rise in home prices coincided with stubbornly high mortgage rates, shutting out potential buyers.
Glimmers of hope have started to emerge, however. Mortgage rates are falling, wages are rising faster than home prices and homebuyers are scooping up their biggest discounts in years, some analysts told ABC News.
“Housing is becoming more affordable. Are we there yet? No. But we’re on the right path,” Ken Johnson, a real estate economist at the University of Mississippi, told ABC News.
The average interest rate on a 30-year fixed mortgage stands at 6.09%, Freddie Mac data last week showed. A little more than a year ago, the average 30-year fixed mortgage rate exceeded 7%.
Each percentage point decrease in a mortgage rate can save thousands or tens of thousands in additional costs each year, depending on the price of the house, according to Rocket Mortgage.
“It looks like mortgage rates are settling down,” Lawrence Yun, chief economist at the National Association of Realtors (NAR), told ABC News. “That’s great news for homebuyers.”
A measure of housing affordability issued by NAR has improved for seven consecutive months, rising to its highest level since 2022, Yun said. The surge in home prices has slowed while income gains have accelerated, bolstering the purchasing power of homebuyers, some analysts noted.
“Incomes are growing faster than home prices,” Johnson said.
Despite these positive signals, the housing market still faces significant challenges, some analysts said, pointing to a fundamental shortage of housing supply.
The housing market is suffering from a phenomenon known as the “lock-in” effect, Lu Liu, a professor at the Wharton School at the University of Pennsylvania, told ABC News.
While mortgage rates have fallen, they remain well above the rates enjoyed by most current homeowners, who may be reluctant to put their homes on the market and risk a much higher rate on their next mortgage.
“The degree of lock-in is unprecedented in the U.S.,” Liu said, noting the prevalence of 30-year mortgages and the inability for homeowners to transfer a current loan to a new property.
Existing home sales declined by 8.4% in January from the previous month, the NAR said in a report last week.
Alongside the lock-in effect, construction has failed to make up for a years-long shortage of new homes, exacerbating the shortfall.
While the lock-in effect remains a significant factor, its impact may be waning as some home owners encounter major life events or other circumstances that force them to move, even if it entails taking on a loan with a higher mortgage rate, Liu said.
“If they really do have to move, maybe they would be more willing to yield to this economic logic,” Liu added.
If homebuyers do move forward with a purchase, they may benefit from major price discounts, Redfin found this month. In 2025, homebuyers received average discounts that amount to 7.9% off a home’s initial listing price, Redfin said, making it the largest average discount in 13 years.
“Homebuyers are more likely to get discounts than they were in recent years because it’s the strongest buyer’s market in recent history,” said Lily Katz and Asad Khan, co-authors of the Redfin report.
Positive signals for homebuyers will likely continue as elevated mortgage rates weigh on consumer demand, slowing the rise in prices, some analysts said. But, they cautioned, an unexpected spike in mortgage rates could hike borrowing costs for homebuyers or an economic slowdown may crimp purchasing power.
“There is uncertainty over the outlook for interest rates,” Liu said. “So the overall price outlook is uncertain.”
Mark Zuckerberg (R), CEO of Meta testifies before the Senate Judiciary Committee at the Dirksen Senate Office Building on January 31, 2024 in Washington, DC. (Anna Moneymaker/Getty Images)
(WASHINGTON) — Mark Zuckerberg is set to testify Wednesday in a landmark Los Angeles trial alleging that major social media platforms were intentionally designed to be addictive for children and teens.
The case, which began last Monday in Los Angeles County Superior Court, centers on claims against Meta — the parent company of Facebook and Instagram — and YouTube, which is owned by Google. Plaintiffs argue the companies knowingly built features that encouraged compulsive use among young users, contributing to long-term mental health harm.
The lawsuit was brought by a now-20-year-old woman identified as “Kaley” and her mother, who allege she was exposed to addictive design features as a child. Her lawyers claim she got hooked on social media apps starting as young as age 6. She says features like auto-scrolling got her addicted to the platforms — ultimately leading to anxiety, depression and body image issues.
In opening statements, the plaintiffs’ attorney Mark Lanier told the jury the case was “as easy as ABC,” which he said stood for “addicting the brains of children.”
The case is the first of more than 1,500 similar lawsuits nationwide to go before a jury, potentially setting a precedent for how tech companies are held liable for product design.
Zuckerberg has appeared before Congress multiple times to address concerns over youth safety and online harms, but Wednesday marks the first time he will testify before a jury on these claims. Legal experts say a verdict in favor of the plaintiff could weaken the broad liability protections tech companies have long relied on under Section 230 of the 1996 Communications Decency Act, which shields platforms from responsibility for user-generated content.(cut)
Several parents of children who died by suicide or accidental harm linked to online trends are expected to attend the proceedings. Some previously watched Zuckerberg apologize during a 2024 Capitol Hill hearing, where he acknowledged families who said social media contributed to their children’s deaths.
The companies deny the allegations, arguing that mental health outcomes are shaped by a range of factors beyond social media use. They say they have implemented safeguards aimed at protecting young users, including parental controls and accounts designed specifically for teens.
In a statement to ABC News at the start of the trial, a Meta spokesperson said, “We strongly disagree with these allegations and are confident the evidence will show our longstanding commitment to supporting young people.”
Meta said that the company has made “meaningful changes” to its services, such as introducing accounts specifically for teenage users.
Zuckerberg’s appearance follows testimony last week from Instagram head Adam Mosseri, who disputed characterizing Instagram use as an “addiction,” while acknowledging what he described as “problematic use.”
Mosseri testified that there’s always a tradeoff between “safety and speech,” saying users don’t like it when they remove options from Instagram.
The Los Angeles trial is part of a broader wave of litigation targeting social media companies. Meta is also facing a separate child safety lawsuit in New Mexico, while lawsuits brought by school districts — modeled after tobacco litigation in the 1990s — are expected to head to trial later this year.
Social platforms Snapchat and TikTok were previously named in the lawsuit but reached settlements with the plaintiffs last month.
Les Wexner speaks onstage at the 2016 Fragrance Foundation Awards presented by Hearst Magazines – Show on June 7, 2016 in New York City. (Nicholas Hunt/Getty Images for Fragrance Foundation)
(WASHINGTON) — Members of the House Oversight Committee on Wednesday are set to depose retail billionaire Leslie Wexner, whose wealth fueled Jeffrey Epstein’s fortune before an alleged multimillion dollar theft ended their relationship, newly revealed documents suggest.
After learning that Epstein stole hundreds of millions from him in 2007, Wexner opted to quietly resolve the issue with Epstein, who at the time was being investigated by federal prosecutors for both sex crimes and money laundering, according to emails and a memo later drafted by prosecutors.
A vitally important person in the transformation of Epstein from college dropout to multimillionaire adviser to the ultra-wealthy, Wexner — a businessman behind brands like Victoria’s Secret and Bath & Body Works — has received substantial scrutiny over his association with Epstein since Epstein’s arrest and death by suicide in 2019.
Years after the two severed ties, prosecutors in New York initially included Wexner in a group of potential co-conspirators to be investigated after Epstein was arrested in July 2019, though they later determined there was “limited evidence regarding his involvement,” according to a recently-released 2019 email from an FBI agent who was part of the sex crimes investigation.
“The Assistant U.S. Attorney told Mr. Wexner’s legal counsel in 2019 that Mr. Wexner was neither a co-conspirator nor target in any respect,” a spokesperson for Wexner told ABC News in a statement following the release of Epstein files by the Department of Justice last month. “Mr. Wexner cooperated fully by providing background information on Epstein and was never contacted again.”
Lawyers for Wexner, in a meeting with federal prosecutors about two weeks after Epstein’s arrest, claimed that Wexner “had no knowledge of any inappropriate or unlawful activity with young women by Epstein” and that Wexner’s dealings with Epstein were “more professional than social,” according to a December 2019 prosecution memo summarizing the investigation into Epstein’s potential collaborators.
Wexner’s attorneys said the two ended their relationship after Wexner learned that “Epstein had stolen or otherwise misappropriated several hundred million dollars” from him, according to the memo. The memo stated that Epstein personally profited by repeatedly purchasing properties for the Wexners before buying them for himself at a fraction of the cost.
“The Wexners then decided to cut off Epstein,” prosecutors wrote in the memo summarizing their discussion with Wexner’s counsel.
‘All I can say is I feel sorry’ Epstein was — throughout 2007 — the subject of an ongoing investigation in Florida into sex crimes involving minors that had expanded to probe potential financial crimes and money laundering. The Wexners did not report the alleged theft of their funds to law enforcement and instead resolved the matter privately, according to prosecutors.
Wexner was contacted by federal prosecutors in Florida as early as August 2007 regarding the Epstein investigation, according to handwritten notes released last month by the Department of Justice. Notes from an August 2007 call between an attorney for Wexner and a DOJ representative suggest that prosecutors inquired about Wexner’s interactions with his “money manager,” documentation of their meetings, and whether Wexner ever visited Epstein’s home.
At the time, prosecutors had begun to broaden their investigation to not only cover sex crimes but also potential money laundering and wire fraud, documents suggest.
“She just wanted to know if Les has been to my house,” Epstein emailed his associate Ghislaine Maxwell in August 2007, in an apparent reference to the prosecutor’s contact with Wexner’s lawyer, according to emails obtained by DDOSecrets, a transparency website that received a cache of Epstein emails that were not included in the DOJ’s disclosures.
“That’s odd?? Why” Maxwell responded.
“It’s bulls—, she just wanted to let him know about an investigation is my guess,” Epstein wrote back.
It is unclear if Wexner was aware of the investigation into financial crimes when his attorney was contacted, but in the following months, Wexner began the process of ending Epstein’s role as his money manager, according to emails in the DDOSecrets collection between lawyers for Epstein and Wexner.
“All I can say is I feel sorry. You violated your own number 1 rule … Always be careful,” Wexler emailed Epstein in 2008 days before Epstein reported to prison for soliciting underage sex, according to documents included in DDOSecrets collection.
“No excuse,” Epstein replied.
‘She pretty much wants everything’ According to a 2019 prosecution memo, Wexner’s wife began to look into Epstein’s management of their money after Epstein claimed he was “having legal problems involving an overly aggressive police chief and some sort of massage.”
According to the memo, Abigail Wexner discovered Epstein “misappropriated a significant amount of the family’s funds,” including by purchasing property on the Wexners’ behalf before selling it to himself at a fraction of the cost.
“When confronted, Epstein tried to convince Wexner’s wife that she did not understand the financials and insisted that he had the Wexners’ best interests at heart,” the memo said. “The Wexners did not want to bring unnecessary public attention to the issue, so they withdrew the power of attorney, and hired counsel to negotiate a private settlement with Epstein.”
Epstein resigned from the foundation and all of his roles with Wexner in September 2007, according to an independent review conducted in 2020 of Epstein’s involvement with the Wexner Foundation.
“Mr. Wexner terminated Epstein as his financial advisor, revoked his power of attorney, and directed that he be removed from all bank accounts,” a spokesperson for Wexner said in a statement to ABC News.
As early as October 2007, emails indicate that Epstein began transferring assets back to Wexner.
“When speaking with [Abigail Wexner], she pretty much wants everything,” Wexner’s financial controller told an attorney for Epstein.
Later that year, an attorney for Wexner pushed the process along, telling an attorney for Epstein that his client “is eager to execute documents,” according to the DDOSecrets cache.
Prosecutors wrote in a 2019 memo that Epstein returned $100 million to Wexner by January 2008.
Though the dispute with Wexner was privately resolved by January 2008, Epstein’s attorneys appeared to have mounted a pressure campaign to discredit the prosecutor pursuing a money laundering investigation into Epstein, according to emails in the DDOSECRETS collection. Epstein had signed a non-prosecution agreement in September 2007, but his lawyers continued to negotiate with the government over its terms for several more months.
“In what can only be seen as an attempt to intimidate Mr. Epstein, Ms. Villafana [an assistant U.S. Attorney] then added money-laundering and unlicensed wire-transmittal to the list of violations under investigation even though there was no evidence against Mr. Epstein concerning these charges,” attorneys for Epstein wrote in a letter to the Office of Professional Responsibility dated Feb. 11, 2008.
By June 2008, Epstein began his jail sentence in Palm Beach after reaching the controversial plea deal that allowed him to avoid federal charges.
‘You and I had gang stuff for over 15 years’ Although Epstein and Wexner appear to have severed ties following Epstein’s plea deal, documents released by the DOJ suggest that Epstein may have attempted to rekindle their relationship in subsequent years by drafting a letter reminding Wexner of shared experiences and alleged secrets. In the letter, Epstein wrote that he protected him when he was questioned by Wexner’s wife about his management of their money.
“You and I had ‘gang stuff’ for over 15 years. A great deal of it, that she was unaware of. I had no intention of divulging any confidence of ours, no matter what accusations she made. And she made quite a few,” Epstein wrote in the draft note. Based on publicly available documents, it is unclear whether Epstein ever sent the note to Wexner.
Wexner publicly addressed his relationship with Epstein in August 2019 amid mounting public pressure, saying in a letter to his charitable foundation that he was “deceived” by Epstein.
“As the allegations against Mr. Epstein in Florida were emerging, he vehemently denied them. But by early fall 2007, it was agreed that he should step back from the management of our personal finances. In that process, we discovered that he had misappropriated vast sums of money from me and my family. This was, frankly, a tremendous shock, even though it clearly pales in comparison to the unthinkable allegations against him now,” Wexner wrote.
Mohsen Mahdawi, a Columbia University student and Palestinian activist, who was arrested by US immigration authorities in mid-April 2025, attends the inauguration ceremony at City Hall in New York, United States, on January 1, 2026. (Selcuk Acar/Anadolu via Getty Images)
(NEW YORK) — For the second time in a little more than a week, attorneys have announced that an immigration court has terminated deportation proceedings against a pro-Palestinian student after Secretary of State Marco Rubio claimed they posed a threat to foreign policy.
According to a letter filed in court, attorneys for Mohsen Mahdawi, the Columbia University student who was detained at his naturalization interview in April, a judge has found that the Department of Homeland Security “did not meet its burden of proving by clear and convincing evidence” that he is removable.
It comes after an immigration court terminated removal proceedings against Tufts University Ph.D. student Rümeysa Öztürk. Her attorneys announced the order in a letter to the federal judge overseeing the case challenging her detention on Feb. 9.
For Mahdawi’s case, immigration judge Nina Froes appears to have based her decision on the finding that DHS failed to authenticate a memo allegedly signed by Rubio claiming Mahdawi was a threat to U.S. foreign policy.
Mahdawi’s attorneys have argued that, like other pro-Palestinian demonstrators, organizers and students, he was being targeted for his constitutionally protected speech.
Öztürk, like Mahdawi, was also labeled a foreign policy risk by Rubio in a memo.
Both cases can be appealed by the Trump administration, so their habeas petitions will likely continue to play out in federal court.
“I am grateful to the court for honoring the rule of law and holding the line against the government’s attempts to trample on due process,” Mahdawi said in a statement. “This decision is an important step towards upholding what fear tried to destroy: the right to speak for peace and justice.”
“In a climate where dissent is increasingly met with intimidation and detention, today’s ruling renews hope that due process still applies and that no agency stands above the Constitution,” he added.
In response to a request for comment about both cases, the Department of Homeland Security sent a previous statement about Mahdawi and said: “It is a privilege to be granted a visa or green card to live and study in the United States of America. When you advocate for violence, glorify and support terrorists that relish the killing of Americans, and harass Jews, that privilege should be revoked, and you should not be in this country. No activist judge, not this one or any other, is going to stop us from doing that.”
Mahdawi was detained in Vermont last spring during his citizenship interview. Arguing that he should continue to be detained, lawyers for the Trump administration pointed to a 2015 FBI investigation, in which a gun shop owner alleged that Mahdawi had claimed to have built machine guns in the West Bank to kill Jews.
However, the FBI closed that investigation and Mahdawi was never charged with any crime, a point a federal judge highlighted when he ordered Mahdawi’s release.
In response to the government’s allegations against him, Mahdawi and his lawyers have firmly refuted allegations that he ever threatened Israelis or those of the Jewish faith. He told ABC News he has been advocating for peace and protesting against the war in Gaza.
“So for them to accuse me of this is not going to work, because I am a person who actually has condemned antisemitism,” Mahdawi said. “And I believe that the fight against antisemitism and the fight to free Palestine go hand in hand, because, as Martin Luther King said, injustice anywhere is a threat to justice everywhere.”
Öztürk was detained in March by masked federal agents, and the arrest was captured on camera. Attorneys representing her said she was targeted, like other high-profile arrests of students, for her Pro-Palestinian views, specifically, for co-authoring an Op-Ed in the student paper in March 2024 calling on the school’s administration to take steps to “acknowledge the Palestinian genocide.”
A federal judge ordered her release in May.
“Today, I breathe a sigh of relief knowing that despite the justice system’s flaws, my case may give hope to those who have also been wronged by the U.S. government,” Öztürk said in a statement on Feb. 9. “Though the pain that I and thousands of other women wrongfully imprisoned by ICE have faced cannot be undone, it is heartening to know that some justice can prevail after all.”
As Justin Moore’s latest hit, “Time’s Ticking,” rises into the top 10, he’s reflecting on how far he’s come.
“It’s pretty amazing, man,” the Arkansas native says. “When I moved to Nashville, #1 was never in the equation. [My goal] was just, have a couple of hits and be able to play music and make some money. And to be where we are — you know, to have 20-plus top-10 records and 13 number ones is just ridiculous.”
“[The] point being, I’m very, very humbled with the career that we’ve had, and it’s just ridiculous, to be honest with you,” he adds. “I don’t even know what to say about it, but ‘thank you,’ you know?”
Justin found his first chart success with 2008’s “Back That Thing Up,” though it only made it to #38. The subsequent “Small Town USA,” however, became his first #1.
His most recent chart-topper, “This Is My Dirt,” hit the pinnacle in October 2024.
Train, ‘Sail Across the Sun’ fan cruise (Sixthman)
Tell me, did you sail across the sun? If you never have, now’s your big chance to join Train on their popular fan cruise.
The ninth installment of the band’s Sail Across the Sun trip will embark from Miami on Feb. 11, 2027, aboard the Norwegian Jewel. It’ll return Feb. 15 after visiting Ocho Rios, Jamaica.
During the cruise, Train will give three completely different concerts, including a fan-selected request set, and bring along multiple performers to entertain their guests. This year’s lineup includes Lisa Loeb, KT Tunstall, Jet, Yacht Rock Revue, Pat McGee Band and Emerson Hart, among others.
In addition to the music, the cruise features comedy, a yoga instructor and a tattoo artist, plus activities ranging from wine tastings to silent discos. There’s also all the typical cruise hallmarks, like hot tubs, a casino, a spa, a fitness center and more.
More information on how to get access to presales for the cruise are available at SailAcrossTheSun.com.
Train plans to release new music this spring. The band will then hit the road this summer for their Drops of Jupiter: 25 Years in the Atmosphere tour, which kicks off on July 8.
Zara Larsson performs on ABC’s ‘Dick Clark’s New Year’s Rockin’ Eve with Ryan Seacrest,’ Dec. 31, 2025 (Disney/Christopher Willard)
As Zara Larsson prepares to kick off the North American leg of her Midnight Sun tour later this month, her song of the same name is climbing the charts. While the song has a specific meaning, Zara says its title also reflects her general outlook on life these days.
“It’s about just really my love for nature and, like, to be alive and to see a beautiful cloud or to have the wind in my hair and, like, all the small stuff,” she told ABC Audio of the song “Midnight Sun.” “And I think that also represents me where I’m at right now. It’s something that is a bit of the lightness in the dark, y’know, always finding like the positive things, just keeping the spirits up, I think.”
The phrase “Midnight Sun” refers to the fact that her home country of Sweden gets almost 24 hours of daylight during the summer months. Zara, 28, said she chose the title for her album in part because the phenomenon makes her think of her early life in Stockholm.
“It’s something that I grew up with. I had the best, most beautiful, bright summers,” she explained. “And it’s about [those] very, very strong polar opposites of the winter and the summer [in Sweden] that really makes me savor the good moments. I think a lot of people in Sweden do that.”
“And now I feel like I can be nostalgic about my childhood and stuff,” she added. “I feel I reached that age where I’m like, ‘Right, yeah.’ So there’s some of that in there too.”
Since Billboard first launched its Mainstream Rock Airplay chart in 1981, the ranking has never seen a song led by three female artists hit #1. Forty-five years later, that has finally changed with “End of You,” the collaborative single featuring Poppy, Amy Lee of Evanescence and Courtney LaPlante of Spiritbox.
Before hitting #1 and making Billboard history, “End of You” began with a simple idea from Poppy and her producer, former Bring Me the Horizon keyboardist Jordan Fish.
“We thought that it would be a really interesting take to have three women in rock music come together on a song,” Poppy tells ABC Audio. “Fortunately, [Lee and LaPlante] were both down for the idea.”
Poppy recorded with Lee in the “Bring Me to Life” singer’s house, and with LaPlante remotely. The track was a fitting full-circle moment for Poppy and LaPlante, who were confused for each other in a viral interview during the 2025 Grammys.
Working with Lee was also exciting for Poppy as a longtime Evanescence fan.
“Her voice is so epic,” Poppy says. “To hear it in a room when she was recording, it was definitely something I was blown away by.”
While they may not have predicted achieving an unprecedented chart feat, Poppy had an early inkling that “End of You” was special.
“I think for all of us, separately and together, it was a big moment,” Poppy says. “It feels like quite a statement piece.”
Lee will reunite with Poppy and LaPlante on Evanescence’s 2026 world tour, which will feature support from Spiritbox on the U.S. leg and Poppy on the European leg.
Andrew McMahon performs onstage at Summerfest 2025 at Henry Maier Festival Park on June 19, 2025 in Milwaukee, Wisconsin. (Joshua Applegate/Getty Images)
Andrew McMahon has announced a new run of his Three Pianos concerts, featuring his projects Something Corporate, Jack’s Mannequin and Andrew McMahon in the Wilderness.
The shows take place Aug. 8 in Philadelphia, Aug. 14 in Chicago and Aug. 22 in Long Beach, California. They follow the debut Three Pianos concert, which took place in 2025 at the Red Rocks Amphitheatre in Morrison, Colorado.
“Last summer’s Three Pianos show was life changing,” McMahon says in a statement. “Nothing could have prepared me for the magic I felt that night. Sharing the stage with the members of all three of my bands and getting to weave a lifetime’s worth of songs and memories into a single show is something I’d wanted to do for years but was too scared to try.”
He continues, “Having done it once, I couldn’t shake the feeling that this was a moment deserving of a few more stages and a few more nights with my friends and collaborators and the fans that gave our music a home.”
In between the Three Pianos shows, McMahon has also scheduled solo performances in Philadelphia on Aug. 6 and Chicago on Aug. 12.
Presales for all dates are open now, and tickets go on sale to the general public on Friday at 10 a.m. local time.
