How interest rate hikes hit home

Also: Separating green hydrogen's hope from hype; Manchin agrees to a deal [Donate ❤️]( [View in Browser](  July 28, 2022 🌤️ Mostly sunny, with a high near 87 and a chance of rain in the afternoon. Good Morning Boston, Hopefully, the [start of Patriots pre-season]( distracts you from the Red Sox' [actual season right now.]( Here's what we have an eye on today — from home prices to hydrogen power. - Another Federal Reserve [interest rate hike yesterday]( could help cool down the Boston area's white hot housing market, and WBUR's Rob Lane reports that's both good and bad news for prospective home-buyers. - The good: Some potential relief from the [insane competition]( at the market's peak. Dawn Ruffini, president of the Massachusetts Association of Realtors, told Lane that most home-sellers are only getting one or two offers now, compared to dozens earlier on. - The bad: There's a reason there's less competition. Houses are even more expensive. According to NPR, the increases in interest rates have upped the monthly mortgage payment on a loan of $400,000 from about $1,700 to nearly $2,300 in the span of just a few months. That's big! And Ruffini says such hikes force cash-poor buyers or those with worse credit scores out of the market. - [According to the Mortgage Bankers Association]( mortgage applications declined last week to the lowest level of activity since February 2000. - Go deeper: NPR has a [detailed breakdown]( of who is winning (people with savings accounts) and losing as the Federal Reserve raises interest rates. - Massachusetts lawmakers have reached a deal on legislation to change how the two state-run veterans' homes operate, after [management problems at the Holyoke Soldiers' Home were faulted]( for a COVID outbreak that killed 76 veterans in the spring of 2020. WBUR's Steve Brown reports lawmakers could send the bill to Gov. Charlie Baker's desk today. Here's what it does: - First, the bill elevates the Department of Veteran's Service to a cabinet-level executive office, meaning the veteran's secretary will report directly to the governor. The secretary also will have the power to hire and fire the superintendents of the two homes for veterans in Chelsea and Holyoke. Second, the bill requires the Department of Public Health inspect both homes at least twice a year (and more frequently during health emergencies). - The changes come after lawmakers found there was a "[communications breakdown]( between members of the Baker administration during the Holyoke outbreak. The state has [agreed to pay $56 million]( to the families of those who got sick or died. - Not so fast: MBTA officials are delaying plans to suspend train service on the northern end of the Orange Line. Shuttle buses were slated to replace trains between Wellington and Oak Grove stations this Friday through Aug. 28 to [accelerate work]( to upgrade the nearby Orange Line rail yard. But now, T officials say they're pressing pause. - What changed? According to MBTA spokeswoman Lisa Battiston, officials may broaden the scope of their plan to make other repairs that would be easier with trains offline. In other words, expect a similar diversion in the near future — just not quite yet. P.S.— Bill Littlefield is [back at WBUR tonight]( But not to talk about sports. The former Only A Game host is coming out of retirement to discuss his new crime novel at WBUR CitySpace with All Things Considered host Lisa Mullins. Grab [your tickets here]( Nik DeCosta-Klipa Editor, Newsletters [Follow](  Support the news  The Rundown [Separating green hydrogen's hope from hype]( Hydrogen packs a powerful energy punch. But finding a clean — and cheap — way to unleash it has remained elusive. Several companies are now working to unlock the simplest atom’s potential. [Read more.]( [Separating green hydrogen's hope from hype]( Hydrogen packs a powerful energy punch. But finding a clean — and cheap — way to unleash it has remained elusive. Several companies are now working to unlock the simplest atom’s potential. [Read more.]( [After spiking earlier talks, Manchin agrees to a new deal on climate and taxes]( The agreement is a major reversal for Democrats who had narrowed their ambitions for the package to addressing lapses in the Affordable Care Act and changes to prescription drug prices. [Read more.]( [After spiking earlier talks, Manchin agrees to a new deal on climate and taxes]( The agreement is a major reversal for Democrats who had narrowed their ambitions for the package to addressing lapses in the Affordable Care Act and changes to prescription drug prices. [Read more.]( [Did your loved one die? MassHealth may bill their estate]( Medicaid requires states to recover nursing home and other long-term care costs subscribers incur after they turn 55. Massachusetts does that by filing claims against the estates of members who've died, if their estates are being handled in probate court. [Read more.]( [Did your loved one die? MassHealth may bill their estate]( Medicaid requires states to recover nursing home and other long-term care costs subscribers incur after they turn 55. Massachusetts does that by filing claims against the estates of members who've died, if their estates are being handled in probate court. [Read more.]( [New Hampshire sues chain pharmacies for their role in fueling opioid addiction crisis]( The suit says the pharmacies failed to create systems to identify, investigate and report suspicious orders of prescription opioids, and fraudulently concealed that failure. [Read more.]( [New Hampshire sues chain pharmacies for their role in fueling opioid addiction crisis]( The suit says the pharmacies failed to create systems to identify, investigate and report suspicious orders of prescription opioids, and fraudulently concealed that failure. [Read more.]( [State police dog shot and killed by suspect]( Frankie, a nearly 11-year-old Belgian malinois, was the first Massachusetts state police dog to die in the line of duty. [Read more.]( [State police dog shot and killed by suspect]( Frankie, a nearly 11-year-old Belgian malinois, was the first Massachusetts state police dog to die in the line of duty. [Read more.]( Anything Else? - Our arts and culture team has [five ways you can make the most of this final July weekend]( including a cult classic movie showing at the New England Aquarium and "Family Day" at the ICA Watershed. - Do you have questions about the historic $1 billion Mega Millions jackpot? NPR [has answers]( — including on the next drawing, potential payouts and how to get in on the action. - WBUR arts and culture fellow Lauren Williams reports on how two 23-year-old Boston transplants are [working to unmask the changing face of skate culture](. - Mandy Syers [writes in this commentary]( that she planned for every variable on her family’s 335-mile summer bike trip from Washington, D.C., to Pittsburgh. Well, almost every variable.  What We're Reading 📚 - Airlines mishandle thousands of wheelchairs each year. These New Englanders want you to know how that puts them at risk. ([Boston.com]( - Welcome to Aotearoa? The Campaign to Decolonize New Zealand’s Name ([The Wall Street Journal]( - Alabama Takes From the Poor and Gives to the Rich ([The New York Times](  Food For Thought [The Choco Taco is dead, but it will never be forgotten]( Klondike confirmed it discontinued the Choco Taco this week. The frozen dessert has been around for nearly four decades, and many fans are lamenting its end and sharing their love for it on social media. [Read more.]( [The Choco Taco is dead, but it will never be forgotten]( Klondike confirmed it discontinued the Choco Taco this week. The frozen dessert has been around for nearly four decades, and many fans are lamenting its end and sharing their love for it on social media. [Read more.]( Before you go: Watch out Boston Pops, there's [a new orchestra "on the rise]( 😎 Forward to a friend. They can sign up [here](. 📣 Give us your feedback: newsletters@wbur.org 📧 Get more WBUR stories sent to your inbox. [Check out all of our newsletter offerings.]( Support the news   Want to change how you receive these emails? Stop getting this newsletter by [updating your preferences.](  I don't want to hear from WBUR anymore. 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