Word that mortgage interest rates are decreasing sparks hope the real estate market can rebound this year. Brooke Thorington has more.
Cut 1 (30) “…I’m Brooke Thorington.”
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Get ready to consume your favorite carnival treat. King Cake season gets underway on Saturday. Teiko Foxx has more.
Cut 2 (30) “…I’m Teiko Foxx.”
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2023 was not the best year for real estate with rising interest rates after an unprecedented hot market during the height of the pandemic. But Louisiana Realtors CEO Norman Morris believes things will improve with mortgage rates expected to settle in between five and six percent.
Cut 3 (10) “…buyers and sellers.”
Morris says the average interest rate for a 30-year fixed mortgage right now is 6.75%.
In addition to interest rates, Morris says the cost of homeowners insurance in the state is also a major hurdle for potential buyers. He says they are working with the legislature and new insurance commissioner to make them more affordable.
Cut 4 (07) “…in 2024.”
Morris says economists predict as we get further into the year, first quarter and beyond, that mortgage rates will stabilize around five percent which will make homes more affordable.
Cut 5 (11) “ …in twenty-four.”
And with the cost of building materials decreasing, Morris says new construction will only increase the inventory of homes and give consumers more options in the housing market.
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If you are a king cake connoisseur, get ready to find the baby. One of the tastiest seasons in the Bayou State – King cake season kicks off this Saturday. Co-Owner of New Orleans Haydel Bakery David Haydel says they have been quite busy between local sales and shipping out orders nationwide.
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With a shorter carnival season, sales are expected to be much lower compared to last year.
Third-generation baker Haydel says the sweet Mardi Gras tradition comes in many variations when it comes to fillings, but when it comes to the most popular…
Cut 7 (12) “…the tradition.”
In 2010, Haydel’s Bakery broke two Guinness World Records by creating two giant king cakes that wrapped around the Superdome.
It’s not just folks in the Bayou State who order his tasty king cakes. Haydel says he’s shipped one of the hand braided sweet treat topped with purple, green, and gold sugar to Linda Boogs at the Vatican. And he expects a busy season through the end of Mardi Gras.
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To place an order, visit haydelsbakery.com.
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A 15-year-old student from Neville High School in Monroe is dead and five of his classmates injured after their deer camp caught on fire early this morning. The incident happened in Jefferson County, Mississippi and Sheriff James Bailey says his deputies were among the first on scene…
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Bailey says the student who died was 15-years-old. He says the five other teenagers were sent to Mississippi hospitals with burns and cuts from trying to escape.
Cut 10 (11) “..five injuries.”
A cause of the fire has not been determined.
News of the fatal fire got back to Neville High School Friday morning and school was dismissed after the second period. Students were encouraged to gather at the Methodist Church in Monroe to pray for the individuals and families involved. Bailey says their hearts go out to those impacted…
Cut 11 (10) “…classmates”
Social media posts identify the deceased teenager as Tarver Braddock. He was a junior and a defensive back on the Neville football team and an outfielder on the baseball team.
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A new governor and Louisiana Legislature will be sworn in on Monday. Republicans will be in control of both the executive and legislative branches. Council for a Better Louisiana president Barry Erwin on what that means for the first regular session that begins in March…
Cut 12 (12) “…vetoed.”
Last year Governor John Bel Edwards vetoed a bill that would have prohibited public schools teachers from discussing gender identity and sexual orientation in front of the entire classroom. He also vetoed legislation that would have required transgender youth to have parental permission for school employees to call them by their preferred names and pronouns.
There was conflict between Governor Edwards and the Republican controlled Legislature. But Erwin expects a better working relationship with Republican Jeff Landry as governor, but it will not be smooth sailing…
Cut 13 (13) “..work together”
Landry has said he wants to pass legislation to reduce crime, lower property insurance rates and improve public education. But he hasn’t provided a lot of specifics. Erwin says the new governor will back legislation that he knows can get the necessary votes in the Legislature…
Cut 14 (11) “..the Legislature.”