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Round out the week with the top tech headlines from around the globe! From Apple Sports to Waymo and more, we have you covered with this week’s major news in the world of tech. Stay connected and read this week’s blog!

Bookshop.org Expands into Ebooks to Challenge Amazon

Launched in early 2020 as a way to support independent bookstores, Bookshop.org is now expanding into ebooks with a new app for Android, iOS, and the web. The app follows the same model as its physical book sales: customers choose a local bookstore to support, and that store earns a share of the profits. Founder and CEO Andy Hunter sees this as a necessary step in the digital age, challenging Amazon’s dominance over the ebook market, which accounts for 75% of sales. Bookshop.org has secured deals with major publishers and will launch with around a million titles, with plans to support self-published authors soon. A standout feature allows users to share quotes from ebooks directly to social media, making books more discoverable. While a Kindle competitor isn’t on the immediate horizon, Bookshop.org’s entry into ebooks could disrupt the status quo and provide indie bookstores with a much-needed foothold in the digital market.

Vodafone Tests Satellite Video Calls for Standard Smartphones

Vodafone has successfully conducted what it claims is the world’s first satellite video call using a standard smartphone, leveraging AST SpaceMobile’s satellite network to enable 4G and 5G connectivity without specialized hardware. The call, made from a remote mountain region in Wales with no prior mobile coverage, showcased stable—though slightly lagging—video quality. AST SpaceMobile, which has partnerships with Vodafone, AT&T, and Verizon, plans to roll out the service in Europe by late 2025 and in the U.S. thereafter. Unlike existing satellite services on iPhones and Google Pixel devices, which are limited to emergency messaging, Vodafone promises a full mobile broadband experience with speeds up to 120 Mbps. The technology aims to eliminate coverage gaps, offering connectivity even in remote areas and at sea. While SpaceX’s Starlink has also demonstrated satellite video calls, Vodafone’s test highlights its potential for widespread consumer use. Pricing details for the service remain undisclosed, but Vodafone sees it as a major step toward closing the digital divide across Europe.

NASA Finds Building Blocks of Life in Bennu Asteroid Sample

Scientists analyzing the Bennu asteroid sample, which returned to Earth in September 2023, have discovered amino acids and other molecules essential for life. Research published in Nature and Nature Astronomy suggests that conditions necessary for life’s emergence were widespread in the early solar system, supporting theories that key organic compounds may have originated in space. The sample contained 14 of the 20 amino acids used in Earthly proteins, nucleobases for DNA and RNA, and minerals indicating a history of saltwater, which could have facilitated complex chemical reactions. These findings stem from NASA’s OSIRIS-REx mission, which launched in 2016, collected the sample in 2020, and successfully returned it in 2023. While not proof of extraterrestrial life, the discovery strengthens the possibility that life’s ingredients may have formed elsewhere in the cosmos.

Waymo Expands Autonomous Vehicle Testing to 10 New Cities in 2025

Waymo is set to expand its autonomous vehicle testing to 10 new cities in 2025, beginning with Las Vegas and San Diego, as part of an effort to assess how its self-driving system adapts to different environments. While these manually driven test runs won’t necessarily lead to immediate robotaxi launches, they will help refine Waymo’s ability to operate in diverse urban conditions. Las Vegas presents challenges like dense traffic and unconventional road layouts, while San Diego serves as a benchmark for how Waymo’s system performs with minimal prior data. The Alphabet-owned company is focused on “generalizability,” aiming to streamline the process of deploying robotaxis in new cities with minimal testing. Waymo will send fewer than 10 vehicles to each city for a few months, primarily in commercial districts, and will work closely with local officials. With plans for future launches in Austin, Atlanta, and Miami, this expansion signals Waymo’s ambition to scale its autonomous technology nationwide.

Boom Supersonic’s XB-1 Breaks Sound Barrier in Historic Test Flight

Boom Supersonic’s prototype test plane, the XB-1, successfully broke the sound barrier three times during its 12th flight. Likewise, this marks a major milestone for the private aviation company. The 63-foot-long demonstrator aircraft, designed to pave the way for Boom’s planned Overture supersonic airliner, reached Mach 1.1. This achievement makes it the first civil aircraft to go supersonic. This of course distinguishes it from the government-backed Concorde, which last flew in 2003. The flight, lasting 34 minutes, took place in the Bell X-1 Supersonic Corridor, named after the first aircraft to break the sound barrier. Powered by three General Electric J85-15 turbojet engines, the XB-1 serves as a testbed for the Overture. Boom aims to launch the Overture by 2030. The company has already secured over $700 million in funding and orders for a combined 35 aircraft. Overall, this signals growing confidence in the return of commercial supersonic travel.

Apple Sports App Update Adds Faster Navigation, More Soccer Coverage, and TV Listings

Apple has updated its iOS Sports app with improved navigation, expanded soccer coverage, and new broadcast information for games in the U.S. Users can now swipe left or right to quickly browse their followed leagues and teams. In addition, game pages will display details on where to watch live broadcasts, such as NHL Network or TNT. The update also adds coverage for the UK’s FA Cup, EFL Championship, and League Cup. Since its launch in February, Apple Sports has steadily expanded. The app has added NFL and college football tracking, live scores, play-by-play updates, and Key Plays summaries. The latest enhancements continue Apple’s push to make the app a comprehensive hub for sports fans.

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of January 30, 2025, were as follows:

The 30-year fixed mortgage rate was 6.95%, down from 6.96% last week. The 15-year fixed was 6.12%, down from 6.16% last week.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

Stock markets – The Dow Jones Industrial Average closed the week at 44,424.25, up 2.2% from 43,478.83 last week. It is up 4.4% year-to-date. The S&P 500 closed the week at 6,101.24, up 1.8% from 5,996.96 last week. The S&P is up 3.7% year-to-date. The Nasdaq closed the week at 19,954.39 up 1.7% from 19,630.20 last week. It is up 3.3% year-to-date. U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.63% almost unchanged from 4.61% last week. The 30-year treasury bond yield ended the week at 4.85%, unchanged from 4.84% last week. We watch bond yields because mortgage rates follow bond yields. Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of January 16, 2025, were as follows: The 30-year fixed mortgage rate was 7.04%, up from 6.93% last week. The 15-year fixed was 6.27%, up from 6.14% last week. The graph below shows the trajectory of mortgage rates over the past year. Home sales data is released on the third week of the month for the previous month by the California Association of Realtors and the National Association of Realtors. These are December’s home sales figures. U.S. existing-home sales December 2024 – The National Association of Realtorsreported that existing-home sales totaled 4.24-million units on a seasonal annualized rate in December, up 9.3% from an annualized rate of 3.88-million units last December. The median price for a home sold in the U.S. in November was $404,400, up 6% from $387,800 one year ago. There was a 3.3-month supply of homes for sale in December, up from a 3.1-month supply in December 2023. First-time buyers accounted for 31% of all sales. Investors and second-home purchases accounted for 13% of all sales. All cash purchases accounted for 28% of all sales. Foreclosures and short sales accounted for 2% of all sales. California existing-home sales – The California Association of Realtors reported that existing-home sales totaled 268,180 on an annualized basis in December, up 19.8% from a revised 223,900 homes sold on an annualized basis last December. The statewide median price paid for a home in was $861,020 in December, up 5% from $819,820 one year ago. There was a 2.7-month supply of homes for sale in December, up slightly from a 2.6-month supply in December 2023. The graph below lists home sales data by county in Southern California.

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of January 23, 2025, were as follows:

The 30-year fixed mortgage rate was 6.96%, down from 7.04% last week. The 15-year fixed was 6.16%, down from 6.27% last week.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of January 16, 2025, were as follows:

The 30-year fixed mortgage rate was 7.04%, up from 6.93% last week. The 15-year fixed was 6.27%, up from 6.14% last week.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

Before I begin this week’s update, I want to express my sympathies to everyone living through the fires. I am devastated by the destruction, pain and sorrow these fires have caused. I have lived in Los Angeles my entire life. I have never seen anything like this before and hope I never will again. The loss of homes, businesses, schools, markets, restaurants, stores, etc. is horrific. At present there are over 10,000 homes lost just in Los Angeles County, and tens of thousands more people are displaced waiting in limbo wondering about the status of their homes and when and how they will ever return. Our prayers are with the victims and residents of The Palisades, Malibu, Pasadena, Altadena, Sylmar, and other communities. Everyone here at Rodeo Realty and myself have you all in our thoughts and prayers.   Our Rodeo Realty family and I have been extremely fortunate to have assisted the community with their housing needs since 1986. Our clients have enriched our lives in so many ways. There are really no words strong enough to express how grateful we are to you for your support. We understand our role in your lives, and it is an obligation we take seriously and will always be here for you to help you in every way possible. We have spent the week scrambling to find housing for those affected and helping people understand their insurance coverage, the process of what is to come and other housing needs. This will be our role for quite some time, so do not hesitate to reach out to us. I also want to acknowledge our Realtors and staff that have lost their homes, the Rodeo Realty office that they work in, and nearly everything they own and have still shown up to our other offices every day to take care of their friends, relatives, clients, and anyone in need. Syd Leibovitch, President Rodeo Realty Inc. U.S. Hiring Surge in December – Employers add a quarter million new jobs in December -The Department of Labor and Statistics reported that 256,000 new jobs were added in December. It blew away economists who were surveyed by Dow Jones who forecasted 155,000 new jobs. The unemployment rate remained at 4.1%. Average hourly wages increased 3.9% year-over-year in December, over one percent above the current rate of inflation. Stock markets – The Dow Jones Industrial Average closed the week at 41,938.45, down 1.8% from 42,722.13 last week. It is down 1.4% year-to-date. The S&P 500 closed the week at 5,827.04, down 1.9% from 5,942.47 last week. The S&P is down 0.9% year-to-date. Nasdaq closed the week at 19,161.63, down 2.3% from 19,622.05 last week. It is down 0.8% year-to-date. Why are mortgage rates rising? In this environment where higher inflation leads to higher interest rates, good news becomes bad news for mortgage rates and bond yields. Mortgage rates and long-term bond yields increased to their highest levels in over a year this week. The better the economy, the more consumers spend. More people spending pushes prices higher and creates inflation. Inflation had dropped steadily and last September it was at its lowest levels since 2021 and the unemployment rate had risen to its highest levels in many years, but the inflation rate has increased for three straight months and the unemployment rate has dropped from where it was in September. It is good news that the economy is gaining strength and growing, but more people working, and wages rising is causing inflation to tick up. U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.77%, up from 4.60% last week. The 30-year treasury bond yield ended the week at 4.96%, up from 4.82% last week. We watch bond yields because mortgage rates follow bond yields. Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of January 9, 2025, were as follows: The 30-year fixed mortgage rate was 6.93%, up slightly from 6.91% last week. The 15-year fixed was 6.14%, up from 6.13% last week. The graph below shows the trajectory of mortgage rates over the past year. Please stay safe!

A Message from Syd Leibovitch, President of Rodeo Realty:

“The devastation caused by these fires is unimaginable. The loss of homes, businesses, and cherished spaces is a tragedy that impacts us all deeply. Many of our agents and employees, particularly in the Palisades, Malibu, Pasadena, and surrounding areas, have been directly affected. Our hearts are with all the victims and communities facing this crisis. At Rodeo Realty, we stand with you, offering our support and keeping you in our thoughts and prayers during this challenging time.”

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of January 9, 2025, were as follows:

The 30-year fixed mortgage rate was 6.93%, up from 6.91% last week. The 15-year fixed was 6.14%, up from 6.13% last week.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.