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SAN DIEGO (KGTV) — The Federal Reserve's decision to lower its key interest rate to near zero will help some San Diegans, but frustrate others.The Fed reduced its Federal Funds Rate to near zero for the first time since the Great Recession of 2008. The move, in reponse to the Coronavirus outbreak, will help keep auto loan rates low and mortgage rates near historic lows. It will also, however, lower earnings from interest bearing savings accounts. Greg McBride, chief financial analyst for Bankrate, predicted the economy to go into a recession, but said the low borrowing rates would help jump start spending once activity picks up again. "Coming out of that, one of the things that's going to give the economy a boost to recover from that will be these brutally low interest rates that entice consumers and businesses to resume borrowing and spending," McBride said. "Somebody concerned about losing their job is not going to go to go out and buy a car."Mortgage rates are already extremely low, with the average rate for a 30-year fixed is 3.36 percent. Still, that's above the all-time lows reached earlier this month, when the Federal Reserve made its first emergency cut. Mark Goldman, a loan officer for C2 Financial Corp., said there has been a rush to refinance since that earlier drop — a big reason why rates did not fall deeper."There's so much refinancing business going on right now that lenders can't stand a lot more business, so they price accordingly," Goldman said. Still, those mortgages rates will remain low as San Diego County enters what's typically its peak home buying season. 1613

SAN DIEGO (KGTV) -- Taco Tuesday is a serious ritual, especially in San Diego.  This week, you're getting another reason to eat Mexican food (not that you needed an excuse). Thursday, April 5 is National Burrito Day! On Tuesday we asked 10News?Instagram followers where to find some of the best burritos in the county. If you came here looking for food chains offering deals, scroll down! Here are the best burritos, according to our Instagram followers:  483

SAN DIEGO (KGTV) - The Central San Diego Black Chamber of Commerce announced a new relief fund for Black owned business meant to keep them afloat during the pandemic.They held a press conference Sunday afternoon at Waterfront Park announcing the Black Business Relief Grant Fund.Lance Growth, member of the chamber and CEO of Growth 1031, organized the press conference and says this is going to fill the gap where the government's Paycheck Protection Program fell short, "for the COVID crisis yes this is a light at the end of the tunnel."Growth says about 95% of black owned businesses did not get federal money."I don’t want to say insulting but disheartening where you watch this crisis unfold then you see your government say, 'Hey we know how bad this is we are going to provide you help,' but then you read about the businesses that [didn't get] PPP, and it just folds into the social unrest," he said.He said the grants and microloans will pay for anything from rent to supplies to payroll.Growth said they weren't going to make the application nearly as time consuming and invasive as the PPP, "we’re just going to try and get you this money as fast as possible because everyone is hurting from this pandemic."Applications open Wednesday, June 17, and priority will be given to small disadvantaged businesses in low income neighborhoods.Specific criteria for the grants will be defined Wednesday, according to the chamber.They are expecting a very high demand, compared to the amount they can give out. "One of the big things we announced is a goal that we want to raise million dollars in 60 days," Growth said, urging San Diegans to use this opportunity to get involved and make a difference.He said supporting black owned businesses help them thrive and remove barriers for the next generation. 1817

SAN DIEGO (KGTV) - The elderly victim of a brutal home invasion in Clairemont last week is relieved two of the three suspects are in custody. John Slobig, 59 and Terry Jones, 53 are due in court Wednesday afternoon in connection with last Wednesday's home invasion in the 4600 block of Firestone Street.Eighty-seven-year-old Paul Schmidt suffered injuries to his head, arms, and wrist during the attack. "I was very grateful for the work that the police did, " said Schmidt. Schmidt said he's lived in the home for fifty-three years and never felt unsafe. "I know that drugs have been so dominant in our society lately that it's a whole different world that we're living in. Things we used to take for granted, you can't anymore," said Schmidt. Schmidt was installing a ceiling fan when he says three men burst through his front door."All of a sudden, these three guys come in and said this is a robbery and he grabbed scissors and walked up to me and said don't mess with us. I didn't want to die that day, and there was three. I'm one guy, I'm 87, I'm not as tough as I used to be," said Schmidt. He tried to pull one of the intruders by his beard, that's when Schmidt says one of the robbers hit him over the head with a ceiling fan blade."The one guy was higher than a kite; the one they have in custody, he was really a terrible person." Police say the trio ransacked the home and took off in the victim's truck, which was recovered. The suspects have lengthy criminal records. They're scheduled to be arraigned Wednesday at 1:30 pm. 1551

SAN DIEGO (KGTV) — Summer is in full swing, with plenty of opportunities for families to get out and enjoy San Diego.San Diego Pride kicks off this week, with the annual Pride Festival on Friday, featuring stage of live music and performances, community booths, games, and more. Then Saturday, the community lines University Ave. in Hillcrest for the annual Pride Parade.In Escondido, the Inspire Festival invites attendees to let their inner artists out with interactive art activities, live music, and delicious local wines and craft beer.MORE: Don't see anything you like? Check out our event calendar for even more local eventsThe annual OTL World Championships return to Fiesta Island on Saturday, continuing San Diego's longstanding summer tradition with plenty to enjoy along the coast.Here's a look at what else is happening around San Diego:THURSDAYSantee Summer Concert Series Where: Town Center Community Park East; Cost: FreeCheck out the sweet tunes of the Bill MaGee Blues Band during Santee's Summer Concert Series. The community event hosts free concerts over the summer complete with a weekly Food Truck Rally every Thursday.The Cado pop-up museum Where: North City; Cost: - (Thursday - Sunday) "The Cado" pop-up museum opens in San Marcos' North City development, bringing interactive art installations like the Ripe Room, Haas Hall, and The Pit Stop to guests who want to dig deeper into the fruit.FRIDAYPride FestivalWhere: Balboa Park; Cost: Free - 0Pride celebrates San Diego's LGBT community with multiple stages of music and dancing at the Pride Festival in Balboa Park. The family-friendly event also features community booths, games, beer gardens, art, and vendors.Marvel in the MoonlightWhere: Quartyard; Cost: Free - Enjoy an evening with "Captain Marvel" as UCSD hosts a screening of the hit film downtown. Families can enjoy a beer garden, food, and a dog run area for pooches. Anyone under 18 and anyone who shows up in costume can get into the event for free.SATURDAYInspire FestivalWhere: Escondido Heritage Garden; Cost: - Paint on a giant canvas, discover delicious wines from local wineries, sample craft beers, and let yourself go to live music as the Inspire Festival heads to Escondido. One ticket includes unlimited food and drink tastings, access to interactive art exhibits, and the festival's live entertainment.Pride ParadeWhere: Hillcrest Pride Flag at University Avenue and Normal Street.; Cost: FreeCheer on floats, marching bands, and colorful cars as they roll through Hillcrest in celebration of San Diego Pride. San Diego's largest single-day civic event celebrates the local LGBT community and headlines Pride weekend.lmperial Beach Sun & Sea FestivalWhere: Imperial Beach; Cost: FreeThe Sun and Sea Festival brings thousands to Imperial Beach every summer for a day of sandcastle competition, concerts, food and more. This year, the theme of the competition will be "Under the Sea," as world-class sculptors create magnificent works of sand art.SUNDAY66th Over-the-Line World ChampionshipWhere: Fiesta Island; Cost: Free to spectate(Saturday - Sunday) The 66th OTL World Championship returns to Fiesta Island Park for two weekends July 13 and 14, and July 20 and 21. The annual event, known for its color team names and characters, started locally in the 1950s and has since become a highlight of summertime in San Diego.Bayside Summer Nights: Harry Potter and The Half-Blood PrinceWhere: Embarcadero Marina Park South; Cost: - 1(Saturday - Sunday) The San Diego Symphony is getting into the Comic-Con spirit early with a two-night performance of music from "Harry Potter and the Half-Blood Prince" as the film is screened, part of the Bayside Summer Pops concert series.Vines & Vittles FestivalWhere: Webb Park, Rancho Bernardo; Cost: - Enjoy a Western-themed festival with plenty of wine and cultural performances and music, featuring the Shirthouse Band and Mariachi Victoria de San Diego. Families can sink their teeth into delicious ice cream, popcorn, and more treats and local artists will showcase "trading post" post wares. 4127