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Buyers fret as the average cost of a new car nears $50K

DETROIT (AP) — After a few years of sharing a 2019 Chevrolet Trax, Dana Eble and Tyler Marcus are finally looking for a second car. But as they jump into the market, the young married couple isn’t sure what they can afford. “I just keep seeing a lot of different aspects of life getting more expensive, and it’s harder,” said Eble, an account manager for a public relations agency. Car ownership has long been integral to the American dream. But as automakers slash the production of inexpensive models to cater to customers who can afford oversized pickups and sport utility ...

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BOYARKO, FOSTER NAMED: Leadership Mahoning Valley has appointed two new members to its board of directors: Sarah Boyarko, vice president of Economic Development, Lake to River Economic Development, and Jessica Foster, senior manager, Assurance, Cohen & Co. Board members play a vital role in guiding the organization’s strategic direction and ensuring its long-term growth and sustainability. Responsibilities include participation in quarterly board meetings, engagement in committee work, support of organizational initiatives, and a personal commitment to advancing LMV’s mission. ...

Luxury SUV comparison: Audi Q5 vs BMW X3

The Audi Q5 and BMW X3 are among the most popular options for shoppers interested in a small luxury SUV. Each one offers a practical size, a classy cabin, and a relatively affordable way to get an SUV with a luxury badge. Notably, the Q5 and the X3 also received full redesigns last year. The BMW X3 adopted a radically different design inside and out. The Audi Q5’s exterior didn’t change much, but inside there’s a new emphasis on technology. So, which luxury SUV is the better buy? Let’s examine their specs, strengths, weaknesses and differences, along with how Edmunds’ ...

Oil prices drop 9% and Wall Street rallies

NEW YORK (AP) — Oil prices dropped back to where they were in the early days of the Iran war, and U.S. stocks raced to another record Friday after Iran said the Strait of Hormuz is open again for commercial tankers carrying crude from the Persian Gulf to customers worldwide. The S&P 500 leaped 1.2% to an all-time high and closed out a third straight week of big gains, its longest streak since Halloween. A freer flow of oil could take pressure off prices not only for gasoline but also for groceries and all kinds of other products that get moved by vehicles. It could even ultimately ...

Average mortgage rate eases to 6.3%

The average long-term U.S. mortgage rate declined again this week, easing borrowing costs for prospective homebuyers during what is typically the housing market’s busiest time of the year. The benchmark 30-year fixed rate mortgage rate dropped to 6.3% from 6.37% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6.83%. The average rate is now at its lowest level since March 19, when it was 6.22%. Meanwhile, borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also eased this week. That average ...

Ford recalls 1.4 million F-150 pickup trucks to fix a gearshift issue

Ford is recalling almost 1.4 million of its F-150 pickup trucks in the U.S. because of a gearshift issue that may lead to the loss of control of vehicles and increasing the risk of a crash. The automaker is aware of two injuries and one accident possibly related to the issue. The recall includes F-150 light trucks with a six-speed automatic transmission that were produced between March 12, 2014 an Aug 18, 2017. The National Highway Traffic Safety Administration’s safety recall report says that some of the pickup trucks may experience an intermittent selection signal of the ...