Average US long-term mortgage rate hits the lowest point in more than 3 years

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By ALEX VEIGA, AP Business Writer

MCLEAN, Va. (AP) — The average long-term U.S. mortgage rate is now down to its lowest level in more than three years.

The benchmark 30-year fixed rate mortgage rate eased to 6.06% this week, down from 6.16% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 7.04%.

The last time the average rate was lower was Sept. 15, 2022, when it was at 6.02%.

Lower mortgage rates boost homebuyers’ purchasing power, good news for home shoppers at a time when the housing market remains in a deep slump after years of soaring prices and elevated mortgage rates have shut out many aspiring homeowners.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell this week, dropping to 5.38% from 5.46% last week. A year ago it averaged 6.27%, Freddie Mac said.

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Trump announces outlines of health care plan he wants Congress to consider

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By MICHELLE L. PRICE and ALI SWENSON

WASHINGTON (AP) — President Donald Trump on Thursday announced the outlines of a health care plan he wants Congress to take up as Republicans have faced increasing pressure to address rising health costs and a jump in insurance premiums after lawmakers let subsidies expire.

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The White House said Trump’s plan would codify his efforts to lower drug prices by tying prices to the lowest price paid by other countries.

The cornerstone is his proposal to send money directly to Americans for health savings accounts so they can bypass the federal government and handle insurance on their own. Democrats have rejected the idea as a paltry substitute for covering the high costs of health care.

“The government is going to pay the money directly to you,” Trump said in a taped video the White House released to announce the plan. “It goes to you and then you take the money and buy your own health care.”

It was not immediately clear if any lawmakers in Congress were working to introduce the Republican president’s plan.

The idea mirrors one floated among Republican senators last year. Democrats have largely rejected this idea, saying the accounts would not be enough to cover costs for most consumers.

Enhanced tax credits that helped reduce the cost of insurance for the vast majority of Affordable Care Act enrollees expired at the end of 2025 even though Democrats had forced a 43-day government shutdown over the issue.

Sen. Bernie Moreno, R-Ohio, has been leading a bipartisan group of 12 senators trying to devise a compromise that would extend those subsidies for two years while adding new limits on who can receive them. That proposal would create the option, in the second year, of a health savings account that Trump and Republicans prefer.

Trump said his plan will seek to bring down premiums by fully funding cost-sharing reductions, or CSRs, a type of financial help that insurers give to low-income “Obamacare” enrollees on silver-level, or mid-tier plans.

From 2014 until 2017, the federal government reimbursed insurance companies for CSRs. In 2017, the first Trump administration stopped making those payments. To make up for the lost money, insurance companies raised premiums for silver-level plans. That ended up increasing the financial assistance many enrollees got to help them pay for premiums.

As a result, health analysts say that while restoring money for CSRs would likely bring down silver-level premiums, as Trump says, it could have the unwelcome ripple effect of increasing many people’s net premiums on bronze and gold plans.

Judge hands offshore wind industry another victory against Trump in clearing way for NY project

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By MICHAEL PHILLIS and JENNIFER McDERMOTT

WASHINGTON (AP) — A federal judge Thursday cleared the way for a New York offshore wind project to resume construction, a victory for the developer who said a Trump administration order to pause it would likely kill the project in a matter of days.

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District Judge Carl J. Nichols, an appointee of President Donald Trump, ruled construction on the Empire Wind project could go forward while he considers the merits of the government’s order to suspend the project. He faulted the government for not responding to key points in Empire Wind’s court filings, including the contention that the administration violated proper procedure.

Norwegian company Equinor owns Empire Wind. It’s the second developer to prevail in court against the administration this week.

The Trump administration froze five big offshore wind projects on the East Coast days before Christmas, citing national security concerns. Trump has targeted offshore wind from his first days back in the White House, most recently calling wind farms “losers” that lose money, destroy the landscape and kill birds.

Developers and states sued seeking to block the order. Large, ocean-based wind farms are the linchpin of plans to shift to renewable energy in East Coast states that have limited land for onshore wind turbines or solar arrays.

On Monday, a judge ruled that the Danish energy company Orsted could resume its project to serve Rhode Island and Connecticut. Senior Judge Royce Lamberth said the government did not sufficiently explain the need for a complete stop to construction. That wind farm, called Revolution Wind, is nearly complete. It’s expected to meet roughly 20% of the electricity needs in Rhode Island, the smallest state, and about 5% of Connecticut’s electricity needs.

Orsted is also suing over the pause of its Sunrise Wind project for New York, with a hearing still to be set. Dominion Energy Virginia, which is developing Coastal Virginia Offshore Wind, plans to ask a judge Friday to block the administration’s order so it can resume construction, too.

The fifth paused project is Vineyard Wind, under construction in Massachusetts. Owners Avangrid and Copenhagen Infrastructure Partners have not indicated publicly whether they plan to join the rest of the developers in challenging the administration.

Empire Wind is 60% complete and designed to power more than 500,000 homes. Equinor said the project was in jeopardy due to the limited availability of specialized vessels, as well as heavy financial losses.

During a hearing Wednesday, Judge Nichols said the government’s main security concern seemed to be over operation of the wind turbines, not construction, although the government pushed back on that contention.

In presenting the government’s case, Associate Attorney General Stanley Woodward, Jr. was skeptical of the perfect storm of horrible events that Empire Wind said would derail their entire project if construction didn’t resume. He disagreed with the contention that the government’s main concern was over operation.

“I don’t see how you can make this distinction,” Woodward said. He likened it to a nuclear project being built that presented a national security risk. The government would oppose it being built, and it turning on.

Molly Morris, Equinor’s senior vice president overseeing Empire Wind, said in an interview that the company wants to build this project and deliver a major, essential new source of power for New York.

McDermott reported from Providence, Rhode Island.

The Associated Press’ climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.

Press freedom advocates worry that raid on Washington Post journalist’s home will chill reporting

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By DAVID BAUDER, AP Media Writer

If the byproduct of a raid on a Washington Post journalist’s home is to deter probing reporting of government action, the Trump administration could hardly have chosen a more compelling target.

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Hannah Natanson, nicknamed the “federal government whisperer” at the Post for her reporting on President Donald Trump’s changes to the federal workforce, had a phone, two laptops and a Garmin watch seized in the Wednesday search of her Virginia home, the newspaper said.

A warrant for the raid said it was connected to an investigation into a government contractor accused of illegally retaining classified government materials, said Matt Murray, the Post’s executive editor, in an email to his staff. The Post was told that Natanson and the newspaper are not targets of the investigation, he said.

In a meeting Thursday, Murray told staff members that “the best thing to do when people are trying to intimidate you is not be intimidated — and that’s what we did yesterday.”

The Reporters Committee for Freedom of the Press said Thursday it has asked the U.S. District Court in Virginia to unseal the affidavit justifying the search of Natanson’s home.

Attorney General Pam Bondi said that the search was done at the request of the Defense Department and that the journalist was “obtaining and reporting classified and illegally leaked information from a Pentagon contractor.”

“If the attorney general can describe the justification for searching a reporter’s home on social media, it is difficult to see what harm could result from unsealing the justification that the Justice Department offered to this court,” the Reporters Committee said in its application.

Government raids to homes of journalists highly unusual

Jameel Jaffer, executive director of the Knight First Amendment Institute at Columbia University, has been working on press freedom issues for a decade and said a government raid on a journalist’s home is so unusual he couldn’t remember the last time it happened. He said it can’t help but have a chilling effect on journalism.

“I strongly suspect that the search is meant to deter not just that reporter but other reporters from pursuing stories that are reliant on government whistleblowers,” Jaffer said. “And it’s also meant to deter whistleblowers.”

In a first-person piece published by the Post on Christmas Eve, Natanson wrote about how she was inundated with tips when she posted her contact information last February on a forum where government employees were discussing the impact of Trump administration changes to the federal workforce.

She was contacted by 1,169 people on Signal, she wrote. The Post was notably aggressive last year in covering what was going on in federal agencies, and many came as a result of tips she received — and was still getting. “The stories came fast, the tips even faster,” she wrote.

Natanson acknowledged the work took a heavy toll, noting one disturbing note she received from a woman she was unable to contact. “One day, a woman wrote to me on Signal, asking me not to respond,” she wrote. “She lived alone, she messaged, and planned to die that weekend. Before she did, she wanted at least one person to understand: Trump had unraveled the government, and with it, her life.”

Natanson did not return messages from The Associated Press. Murray said that “this extraordinary, aggressive action is deeply concerning and raises profound questions and concern around the constitutional protections for our work.”

The action “signals a growing assault on independent reporting and undermines the First Amendment,” said Tim Richardson, journalism and disinformation program director at the advocacy group PEN America. Like Jaffer, he believes it is intended to intimidate.

Sean Spicer, Trump’s press secretary at the beginning of his first term, said the concerns are premature. If it turns out that Natanson did nothing wrong, then questions about whether the raid was an overreach are legitimate, said Spicer, host of the political news show “The Huddle” on streaming services.

“If Hannah did something wrong, then it should have a chilling effect,” he said.

A law passed in 1917 makes it illegal for journalists to possess classified information, Jaffer said. But there are still questions about whether that law conflicts with First Amendment protections for journalists. It was not enforced, for example, when The New York Times published a secret government report on U.S. involvement in Vietnam in 1971.

“It’s the government’s prerogative to pursue leakers of classified material,” the Post said in an editorial. “Yet journalists have First Amendment rights to gather and publish such secrets, and the Post also has a history of fighting for those freedoms.”

Not the first action taken against the press

The raid was made in context of a series of actions taken against the media during the Trump administration, including lawsuits against The New York Times and the BBC. Most legacy news organizations no longer report from stations at the Pentagon after they refused to sign on new rules restricting their reporting set by Defense Secretary Pete Hegseth. Funding for public broadcasting has been choked off due to Trump’s belief that its news coverage leaned left.

Some news outlets have also taken steps to be more aligned with the administration, Jaffer said, citing CBS News since its corporate ownership changed last summer. The Washington Post has shifted its historically liberal opinion pages to the right under owner Jeff Bezos.

The Justice Department over the years has developed, and revised, internal guidelines governing how it will respond to news media leaks. In April, Bondi issued new guidelines saying prosecutors would again have the authority to use subpoenas, court orders and search warrants to hunt for government officials who make “unauthorized disclosures” to journalists.

The moves rescinded a policy from President Joe Biden’s Democratic administration that protected journalists from having their phone records secretly seized during leak investigations.

“Leaking classified information puts America’s national security and the safety of our military heroes in serious jeopardy,” White House press secretary Karoline Leavitt said in a post on X. “President Trump has zero tolerance for it and will continue to aggressively crack down on these illegal acts moving forward.”

The warrant says the search was related to an investigation into a system engineer and information technology specialist for a government contractor in Maryland who authorities allege took home classified materials, the Post reported. The worker, Aurelio Perez-Lugones, is accused of printing classified and sensitive reports at work and some were found at his Maryland home, according to court papers.

Associated Press writers Alanna Durkin Richer and Eric Tucker in Washington contributed to this report. David Bauder writes about the intersection of media and entertainment for the AP. Follow him at http://x.com/dbauder and https://bsky.app/profile/dbauder.bsky.social.