Local News
SoCal welcomes cut to interest rates – NBC Los Angeles
Americans grappled by inflation may sense a bit of relief since the Federal Reserve announced Wednesday it lowered interest rates by a half point.
Although the move primarily impacts the central bank’s federal funds rate, consumers will feel the shift since it will likely spill over to monthly credit card, auto loan, personal loan and mortgage costs. Realtors in Southern California are hoping the announcement will inspire homebuyers.
“So, this property’s been on the market for 125 days,” said Jimmy Mercado, a realtor who showed NBC4 a listing in El Sereno.
During the first two years of the COVID-19 pandemic, most homes stayed on the market for days. Since 2022, however, the dream of home ownership became unattainable when the rate of inflation increased.
“The rates went up the quickest they had in like 20 years,” Mercado said. “So, it went from 3% to about 6% in three months and that kind of started flatlining the market.”
Wednesday’s announcement from the Federal Reserve is first cut since March 2020. The federal funds rate is slated to move to a range between 4.75 to 5%.
The Federal Reserve sets the federal interest rate, which can impact everything from from your mortgage to your car loans. Here’s what you need to know.
“This is a huge day,” Mercado said. “We anticipated a quarter percent cut. It’s half a point; that’s a lot of money that now buyers can leverage out.”
For families, it’s a welcomed announcement they say will help their households.
“We were just unemployed, but we just got employed again,” said Jacki Bembridge, a mother of six. “And so, we’re just starting to climb out of things and to do budgets and then to know that this is happening will be very, very helpful.”
“I think it’s definitely a good step in the right direction,” said Alhambra resident Joe Benegret. “I guess let’s just hope it goes forward as well with groceries. I know just common living right now, it’s really taking a hit.”
Local News
SpaceX rocket launches from California coast – NBC Los Angeles
A SpaceX rocket lifted off Friday from the Santa Barbara County coast in an early morning launch through low clouds.
The Falcon 9 rocket launched just before 7 a.m. from Vandenberg Space Force Base northwest of Santa Barbara. The rocket soared through a deep layer of clouds and carried 20 Starlink satellites into low-Earth orbit.
Liftoff! pic.twitter.com/u4pefHLdda
— SpaceX (@SpaceX) September 20, 2024
The first stage landed on a droneship at sea.
The rocket and its exhaust plume are sometimes visible for hundreds of miles as it soars along the coast, if skies are clear. Launches just after sunset and before sunrise usually provide the best views as the rocket reflects the sun’s rays against the backdrop of a darkened sky.
The rocket can produce a sonic boom as it soars along the Southern California coast.
SpaceX has a Starlink constellation of satellites orbiting Earth about 340 miles up, shuttled into space by the company’s rockets. The Starlink network is designed to deliver high-speed internet anywhere around the globe.
If light conditions are right, the satellites appear in a train as they parade across the night sky. The satellites are sometimes visible in the first few minutes after sundown and before sunrise when the sun is below the horizon, but the satellites are high enough to reflect direct sunlight.
Use the FindStarlink tracker to find the best upcoming viewing times.
Local News
The Rundown: Thursday September 19, 2024
Local News
How to add California driver’s license to iPhone, Apple Watch – NBC Los Angeles
California driver’s license holders can now add their state ID to Apple Wallet on their IPhone and Apple Watch, Gov. Gavin Newsom announced Thursday.
The digital IDs will be accepted at Transportation Security Administration (TSA) check points, including Los Angeles International Airport and San Francisco Airport, as well as select businesses.
“With this new integration, we’re working to better serve the people of California in the 21st Century,” Newsom said in a statement.
Here’s how to add your ID to Apple Wallet
- Go to Apple Wallet
- Click the + button on the top right-hand corner
- Under the “Add to Wallet” section, tap “Driver’s License or State ID” to select “California mDL Pilot.
- Scan the front and back sides of your California ID
- Scan your face
- Take a picture
- Wait for verification from the California DMV.
But there’s a catch
The mobile driver’s license (mDL) pilot program is currently only limited to 1.5 million participants.
If your license is expired or suspended, your mDL will be rejected.
Other factors that could impact your mDL applications are:
- Wearing headwear
- Not using plain background
- Lack of consistent lighting
- Other faces in the frame
- Wearing sunglasses
More tips can be found here.
Last month, the state announced the DMV addition of Google Wallet as an option to hold driver’s licenses and identification cards.
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