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RABBIT HASH, Ky. - It was the ultimutt pawlitical showdown, but one dog proved he was the most pupular pooch in Rabbit Hash, Kentucky.Wilbur, a french bulldog, won the race for mayor Tuesday night with 13,143 votes, unseating incumbent Brynneth Pawltro.Second and third-place finishers, Jack Rabbit, the beagle, and Poppy, the golden retriever, respectively, will both be Rabbit Hash Ambassadors. Lady Stone will continue to be a Rabbit Hash Ambassador as well.Since 1998, the mayor of Rabbit Hash has been a dog. Rabbit Hash’s canine mayors don’t make legislative decisions for the town, which is owned by the Rabbit Hash Historical Society, but their elections raise money to keep the town’s historic buildings in good condition.This story was first reported by Zach McAuliffe at WCPO in Cincinnati, Ohio. 815
Record unemployment rocked the real estate market. Now, interest rates are at record lows, giving many people a new way to save money by refinancing their current mortgage.Matthew Garcia, a senior loan officer with Supreme Lending, says now is a good time to refinance your home. "Absolutely. I mean, you’re looking at interest rates being at the most historic rates they’ve ever been. Rates have been in the 3% ranges before but now you’re seeing 30-year loans getting into the upper twos and middle twos, which is completely insane," said Garcia.Garcia says the industry is going through a refinancing boom that it hasn't seen since a few years after the Great Recession. Refinancing your mortgage, or essentially restructuring your current home loan under a new, lower interest rate, can be done for a couple different reasons."There’s two main types of refinancing you can do. There’s what’s called rate term refinance which means I’m simply refinancing the balance from any closing costs I might have and dropping the interest rates. That’s what called Rate Term, taking no additional cash out. Then there’s also cash out. Cash out refinances tend to be a bit more expensive. When I say more expensive, I mean the rates are slightly higher, more expensive in cost structure," said Garcia.For cash out refinancing, home owners who have likely owned their property for at least four or five years, are refinancing to take the extra cash from the increased equity in the home, and invest it in renovations or elsewhere."Where people can get into more danger is, they're taking out money because they want to go out and invest in other investment properties, go use that money to go out and buy other homes, speculate. That’s where it gets a bit dangerous. A lot of folks start watching their HGTV and think they're the expert and they're going to tap into this equity and go and do these things. There’s a lot more to it," said Garcia.Garcia says the last thing people want is to end up with two failed mortgages. He says the best reasons to refinance is debt consolidation or if it will save money in the long run.Josh Stech, CEO and co-founder of Sundae, a company that helps people with homes in bad condition get their properties sold, also says it's a good time to refinance because of how great the real estate market was doing before the COVID-19 pandemic."Rates are really low but also equity in homes was really high. We hit historic highs heading into the pandemic in terms of the amount of equity that homeowners have in their homes. Basically, the value versus the mortgage that they owe," said Stech. As for how long interest rates will last, Federal Reserve Chairman Jerome Powell has said they could be around for years. Sheck says, there's a chance interest rates could go even lower but there's already so much demand to refinance and banks can only process so many."I think as the fed is targeting a longer term near-zero interest rate environment, I think actually if you maybe wait a little bit you might play the game and win and get a lower interest rate because of the supply and demand I mentioned. I think it's a great time. It's hard to argue with record lows you haven't seen since 1971," said Stech.Experts recommend people who are considering refinancing to talk to a loan officer or financial advisor to make the best decision for their situation. But, if it's something they're interested in doing, to look into it while the rates are as low as they are. 3495
RANCHO BERNARDO (KGTV) - A 54-year-old man was pinned between two cars when he was rear-ended by a teen later arrested on suspicion of driving under the influence. The victim was towing his Nissan Sentra in a BMW when he stopped check the tow straps in the 14900 block of Camino Del Norte in Rancho Bernardo around 9 p.m. Saturday. Related: Valley Center wrong-way head-on crash As he stood between the two vehicles a 16-year-old boy in a 2000 Nissan Xterra rear-ended the vehicles and pinned him between both the BMW and Nissan Sentra.According to Officer Robert Heims, the force of the collision broke both of the man's legs. The injuries were deemed non-life threatening and the victim was taken to a hospital.Related: Suspected 16-year-old drunk driver arrested after crash A 54-year-old woman was also riding in the Sentra when the accident occurred. She complained of pain but was not hospitalized.The teen was arrested under suspicion of drunk driving charges. 1002
President Donald Trump says he has asked the SEC to study whether to stop requiring companies to report quarterly earnings.In speaking to business leaders, one told him a twice-a-year reporting system would allow companies the flexibility and cost savings companies need to "Make business (jobs) even better in the U.S." Trump tweeted Friday morning. Trump said he directed the SEC to look into a change in its requirements.Public companies must report their sales, profits and the state of the company's balance sheet every quarter. That has been required since the Securities Exchange Act of 1934, which was put in place to give more confidence and transparency to investors in the wake of the 1929 stock market crash. That act also created the SEC, which sets the regulations which govern those quarterly reports.Businesses have long complained that the reports require company executives to focus too much on the short term. Juicing numbers impresses investors, but it can force companies to miss out on long term trends. One of the reasons Tesla CEO Elon Musk wants to take his company private, he told his employees last week, was the way quarterly reports distort decisions at the company.President Barack Obama has also criticized quarterly reports.Speaking to the New York Review of Books in 2015, Obama said that he had talked to a large number of businesses executives who told him, "Because they've got quarterly reports to shareholders and if they've made a long-term investment that may pay off way down the line, or if they're paying their employees more now because they think it's going to help them retain high-quality employees, a lot of times they feel like they're going to get punished in the stock market. And so they don't do it, because the definition of being a successful business is narrowed to what your quarterly earnings reports are."Shareholders, however, use the quarterly earnings reports as a guide to the quality and health of their investments. Without quarterly financial reports, investors could be blind to important risk factors that could damage their portfolios.The president has run privately-held companies that didn't have to report results at all during most of his time in business,The European Commission, among others, only requires semi-annual financial reports of companies there, although major European companies whose stock is traded in both the United States and Europe will report on a quarterly basis in order to comply with SEC regulations.The-CNN-Wire 2519
President Donald Trump's former campaign manager is receiving treatment under Florida's Baker Act following a reported suicide attempt.Fort Lauderdale police confirm Brad Parscale is getting help under a law that allows the detention of a person in the midst of a mental health crisis.According to police, Parscale's wife called 911 on Sunday and indicated that her husband was armed and threatening to harm himself while barricaded inside their home.Parscale eventually surrendered to the police.Trump demoted Parscale following a rally this summer in Tulsa, Oklahoma. Prior to the event, Parscale indicated that the campaign had received millions of requests for tickets. However, Trump's rally took place in a half-empty arena.A Trump campaign spokesperson told CNN that the organization "loves him like family" and "will support him through this time." 864