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WASHINGTON (AP) — Long-term U.S. mortgage rates fell this week as the key 30-year home loan marked an all-time low for the third time in the last few months since the coronavirus outbreak took hold. Mortgage buyer Freddie Mac reports that the average rate on the 30-year loan tumbled to 3.15% from 3.24% last week.It was the lowest level since since Freddie started tracking rates in 1971. The average rate on the 15-year fixed-rate mortgage declined to 2.62% from 2.70% last week. 493

WASHINGTON — The Federal Reserve took emergency action Sunday and slashed its benchmark interest rate by a full percentage point to nearly zero and announced it would purchase more Treasury securities to encourage lending to try to offset the impact of the coronavirus outbreak. The central bank said the effects of the outbreak will weigh on economic activity in the near term and pose risks to the economic outlook. The central bank said it will keep rates at nearly zero until it feels confident the economy has weathered recent events. The Fed also said it has dropped its requirements that banks hold cash reserves in another move to encourage lending.The Fed's announcement comes after President Donald Trump badgered the the apolitical agency throughout weekend, pushing them to lower rates. Trump lauded the decision at a press conference at the White House on Sunday evening."I'm very happy," Trump said. "...you won't hear anything bad from me (about the fed) unless it's a few months from now." 1018

Wendy's is set to join the ranks of McDonald's, Burger King, Taco Bell, Hardee's and other fast food outlets that serve breakfast. Wendy's announced on Monday that it will make breakfast available system wide in 2020 after only running at 300 of its U.S. locations currently. Adding breakfast at restaurants will mean Wendy's will add 20,000 employees. Wendy's said that its breakfast menu will include a breakfast Baconator, Frosty-ccino, and honey butter chicken biscuit."Launching breakfast in our U.S. restaurants nationwide provides incredible growth opportunities," said Todd Penegor, President and CEO of The Wendy's Company. "We are well-positioned to pursue it. We believe we have the right team and structure in place, and we put Wendy's fan favorites on our breakfast menu to set us apart from the competition." 834

Typhoon Lekima made landfall in the eastern Chinese province of Zhejiang early Saturday morning, hours after China issued a red alert about the storm.The storm reached China at about 1am local time (1pm Friday ET), according to estimates from CNN Weather.According to the Joint Typhoon Warning Center, Lekima sustained winds of 175 kph (110 mph), making it equivalent to a category 3 hurricane on the Saffir-Simpson Hurricane Scale. Earlier in the week, it had briefly been classified as a "super" typhoon, before weakening somewhat.Southern Zhejiang will be most affected by the winds, but other coastal areas -- including areas north of Shanghai -- are at risk from heavy rain and floods.On Friday morning, China's National Meteorological Center 760

WASHINGTON, D.C. -- New Jersey Sen. Cory Booker has dropped out of the race for the Democratic presidential nomination. Booker made the announcement in a video posted to Twitter, saying "It’s with a full heart that I share this news—I’m suspending my campaign for president." He added, "To my team, supporters, and everyone who gave me a shot—thank you. I am so proud of what we built, and I feel nothing but faith in what we can accomplish together." 463