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Nation and World

US mortgage rates reach highest level in over two decades

Freddie Mac said the average rate on a 30-year home loan reached its highest level since 2002, which could increase costs for borrowers by hundreds of dollars a month.

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US credit rating downgraded for only second time in history

Fitch Ratings has downgraded the United States government’s credit rating, citing rising debt and a “steady deterioration in standards of governance” over the past two decades.

Feds racing to sell assets as nation’s 16th largest bank fails

Silicon Valley Bank, the nation’s 16th-largest bank, failed after depositors hurried to withdraw money this week amid anxiety over the bank’s health. It was the second biggest bank failure in U.S. history after the collapse of Washington Mutual in 2008.

Elon Musk’s next drama: A trial over his tweets about Tesla

While still grappling with the fallout from a company he did take private, beleaguered billionaire Elon Musk is now facing a trial over a company he didn’t.