More car buyers are choosing an EV this year than ever before, according to data from Cox Automotive. U.S. consumers bought nearly 300,000 new electric vehicles in Q2—more than the total number sold in all of 2019. Price cuts, improved variety, and more government investment have driven the surge, according to the host of NTD Business, Don Ma.
Turning to the social media wars—a new web version for Meta’s Threads app is in the works. The move comes amid fierce competition between Meta and Elon Musk’s rival company X, formerly Twitter. The new feature would add to users’ wish lists after the Meta app’s popularity declined since it launched in early July.
Mortgage rates may soon climb further to 8 percent. Economists say it all depends on what the Fed will do about inflation in the coming months. If officials choose to raise rates once again, it would be the 12th hike in 18 months—meaning higher costs for homebuyers. The 30-year fixed mortgage rate has already settled above 7 percent, its highest level in more than 20 years.