Marketplace All-in-One

On Mortgage News Daily, the average rate for a 30-year fixed is now up to 7.6%. And as the cost of a mortgage has gone up, the demand for home loans has dipped to a two-year low, according to the Mortgage Bankers Association. Then, some lenders surveyed by the Federal Reserve reported that they’ve been noticing a pickup in delinquencies, as higher costs burden both families and businesses.

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Starting today, states are now responsible for a bigger share of the administrative costs that come with running the SNAP food assistance program. It used to be a 50-50 split with the federal government, but now states will take on 75% of the costs. We explore the impacts. We also discuss fresh inflation data and consumer spending figures. Plus, should Big Oil pay for some of the damage caused by burning fossil fuels?

Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.

Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Over the last 25 years, the U.S. government has spent billions of dollars to build a "virtual wall" of video surveillance at the southern border. The network can signal Border Patrol to respond when it detects suspicious activity. And officials have touted the benefit of providing aid to migrants in distress.

But a recent investigation by MIT Technology Review and the Times of San Diego found more than 1,000 migrants have died over the last decade within range of one of these cameras. Eileen Guo co-reported the series, “Dying on Camera.”

More on this:

“The US spent billions on border surveillance. Why can’t it catch people before they die?” from MIT Technology Review

“A congressional representative just proposed killing America’s border tower program” from MIT Technology Review

Does higher education still guarantee financial stability? How can parents set their kids up for success, without subjecting them to overbearing pressure? Reema talks to writer Min Jin Lee to talk about her new novel, “American Hagwon.” They discuss the precariousness of the middle class, and how love, fear, and money get tangled up in what parents want for their children … and what those kids can feel like they owe in return.

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OpenAI just announced it will delay its IPO due to ongoing AI safety concerns. But when you’re a company as big as OpenAI, where does your funding come from? In this episode, venture capital doesn’t cut it. Plus: Second quarter GDP was revised up thanks to all that corporate AI investment, Kai breaks down why the labor market is kinda like a bathtub, and farmers turn to agritainment as crop revenue shrinks.

Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.

Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Read the stories in today’s episode:

Second quarter GDP growth is brought to you by the letters A and I
Why full employment is like filling a bathtub with water
OpenAI delayed its IPO. That makes private investors happy
Corn mazes, apple picking, and hayrides: More farms are leaning into "agritourism"
Is your Dijon spicy? Heat and drought might be the cause
How "Neon Tom" made a 40-year career out of neon signs