Hyundai and Kia are telling the house owners of greater than 571,000 SUVs and minivans within the U.S. to park them outside as a result of the tow hitch harnesses can catch hearth whereas they’re parked or being pushed.
The affiliated Korean automakers are recalling the autos and warning folks to park them away from constructions till repairs are made.
Affected Hyundai autos embody the 2019 to 2023 Santa Fe, the 2021 to 2023 Santa Fe Hybrid, the 2022 and 2023 Santa Fe Plug-in hybrid and the 2022 and 2023 Santa Cruz. The solely Kia affected is the Carnival minivan from 2022 and 2023. All have Hyundai or Kia tow hitch harnesses that got here as unique tools or had been put in by sellers.
Owners shall be notified beginning May 16.
Mortgage charges slide
The common long-term U.S. mortgage fell for the second straight week which, mixed with moderating dwelling costs, might give home hunters a break and the housing market a lift because the spring shopping for season begins.
Mortgage purchaser Freddie Mac reported Thursday that the typical on the benchmark 30-year charge fell to six.42% from 6.6% final week. The common charge a 12 months in the past was 4.42%.
Even although monetary markets stay jittery over current financial institution collapses and the Fed raised its benchmark lending charge by one other 25 foundation factors Wednesday, some economists assume there could also be gentle on the finish of the tunnel for the downtrodden housing market.
“On the homebuyer front, the news is more positive with improved purchase demand and stabilizing home prices,” mentioned Sam Khater, Freddie Mac’s chief economist. “If mortgage rates continue to slide over the next few weeks, look for a continued rebound during the first weeks of the spring homebuying season.”
Source: www.bostonherald.com”