PODCAST: Mortgage rates spike, Colorado River drops
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The value of the benchmark 10-year Treasury note is down, amid signs the U.S. economy is gathering strength. The yield is up to 2.14 percent, and 30-year mortgage rates are inching close to 4 percent, the highest in a year.
Last week’s tornado in Moore, Oklahoma could cost insurance companies $3.5 billion, according to Risk Management Solutions. Marketplace’s Krissy Clark reports from Oklahoma with some of the more human costs of the disaster and ongoing recovery.
The Colorado River supplies water for 40 million people and 4 million acres of farmland. But scientists warn that with record drought and a growing population, there’s a lot more demand than the river can supply.