Mortgage rates rise to highest in 2 years
Long-term U.S. mortgage rates edged up this week to the highest levels in more than two years.
The rate on 30-year mortgages rose to 4.32 percent, while the rate on 15-year home loans was up to 3.55 percent. The rate for 5-year adjustable rates were up to 3.3 percent this week.
Investors are bidding up rates under the belief that inflation and economic growth will rise with the incoming Trump administration. Long-term mortgage rates have risen nine straight weeks.
Amazon files patent for small- drone delivery
SEATTLE – Amazon. com scientists have dreamed up a scheme straight out of “Voltron,” a 1980s animated show for kids where several vehicles joined together to form an evil-fighting super-robot. In this case it’s a super-drone.
In a patent filing dated Thursday, the e-commerce giant said it wants to build a “collective” unmanned aerial vehicle by having smaller drones stick together in various configurations. That would allow the super-drone to carry “virtually any size, weight, or quantity of items, travel longer distances, etc.,” the application reads. The drones can also fly together somewhere and then decouple to make individual deliveries.
The idea would allow Amazon to field just one type of drone, instead of several types in which each is designed to carry different types of packages or travel at various distances.
Honda recalls Odyssey for rear seat defect
Honda Motor Co. is recalling 633,753 Odyssey minivans in the U.S. because the second-row seats could move unexpectedly.
The recall involves Odysseys from the 2011 to 2016 model years. They were made between Aug. 1, 2010, and Oct. 1, 2015.
The vehicles have a second-row seat lever that moves the outer seats forward to access the third row. Honda said the release lever may remain in an unlocked position, which could allow the seats to move unexpectedly.
Honda said the problem was identified through warranty claims. There are no reports of injuries or accidents related to the issue.
Honda will notify owners about the recall next month. Dealers will repair the seat levers for free.