Average mortgage rates climb for 2nd week
Average long-term U.S. mortgage rates this week rose sharply for a second straight week as expectations grew that the Federal Reserve may soon raise its key short-term interest rate. Mortgage giant Freddie Mac said the average rate on a 30-year fixed-rate mortgage jumped to 3.98 percent from 3.87 percent a week earlier. Nearing 4 percent, it was the highest level for the 30-year rate since July. The rate on 15-year fixed-rate mortgages climbed to 3.20 percent from 3.09 percent. A year ago, the average 30-year mortgage rate was 4.01 percent, while the rate for 15-year loans was 3.20 percent.
KFC launches delivery in two U.S. cities
Colonel Sanders wants to come to your home: KFC said it will start delivering its buckets of fried chicken to customers in two U.S. cities. It will be the first time the chicken chain has delivered in the United States. Starting Thursday, people in Los Angeles and San Francisco are able to have food delivered. KFC said it expects to expand the delivery service into Houston by the end of this year. More cities may come later. KFC is working with online delivery company DoorDash to deliver its chicken, biscuits and coleslaw. Customers will have to make orders through DoorDash's app or website. The chicken won't come cheap: There's a delivery fee between $4.99 and $6.99, depending on a customer's location, and prices of some items will be higher than those in the restaurants.
Initial jobless claims held steady last week
The number of people seeking unemployment aid was unchanged last week, a sign that most businesses are reluctant to cut jobs. The Labor Department said that weekly applications for jobless benefits remained at a seasonally adjusted 276,000, the same as the previous week. The four-week average, a less volatile measure, rose 5,000 to 267,750. Applications are a proxy for layoffs. Just three weeks ago, the average dropped to its lowest level since 1973. That suggests employers are confident the economy will expand and see little reason to let go of their staffs.
Uh-oh: Some SpaghettiOs being recalled
Campbell Soup Co. is recalling 355,000 cans of SpaghettiOs because of a possible choking hazard caused by pieces of red plastic found in some cans, the company announced. The plastic pieces are from parts of the can lining "which may peel off," according to a Campbell's news release. The affected 14.2-ounce SpaghettiOs Original cans are dated Feb. 22, 2017, and have a UPC code of 51000 22432 printed under the bar code. The recall comes after customer complaints, the release said, and is limited to the United States. Affected cans can be returned to the store for a full refund.