Bank of Mexico Slows Pace of Interest-Rate Cuts
The board of governors voted 4-1 to lower the overnight interest-rate target to 7.75% from 8%. Deputy Gov. Jonathan Heath voted to leave the rate unchanged.
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Borderlands Mexico: US trade with Mexico tops $73B in June
Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: US trade with Mexico tops $73B in June; Pharmaceutical maker plans $188M investment in Mexico; and Border agents find $7.6M in meth hidden in shipment of roses. US trade with Mexico tops $73B in June Despite ongoing trade uncertainty caused by tariffs, U.S. commerce with Mexico rose 4.4% year-over-year in June to $73 billion. Canada was the No. 2 trade partner of the U.S. during June at $58 billion, a 9.6% year-over-year decrease compared to the same period in 2024. China was the third-ranked U.S. trade partner in the month, totaling $28.4 billion, a 36% year-over-year decline. During June, the U.S. imported $44.9 billion worth of goods from Mexico, while exporting $28.1 billion in products and services to the country. The top five U.S. imports from Mexico in June were computers ($7.2 billion), passenger vehicles ($4.2 billion), auto parts ($2.9 billion), commercial vehicles ($2.8 billion) and insulated wire cable ($1.5 billion), according to Census Bureau data analyzed by WorldCity. The top five U.S. exports to Mexico in June were gasoline ($2.7 billion), auto parts ($1.8 billion), computer parts ($1.6 billion), computer chips ($925 million) and natural gas ($803 million). Port Laredo, Texas, was the No. 1 international U.S. trade gateway in June, totaling $29.8 billion in two-way commerce, according to WorldCity. Chicago O'Hare International Airport was the No. 2 international trade gateway during June at $29.1 billion. The Port of Los Angeles was the No. 3-ranked U.S. trade gateway during the month at $24.8 billion. During June, 249,079 commercial trucks crossed through the Laredo port of entry, a 3.5% year-over-year decrease. Commercial truck crossings through Laredo in July declined 1.3% year-over-year to 255,684 vehicles. As of Friday, the Laredo market ( accounted for 0.66% of the total outbound truckload demand, an 8% week-over-week gain. Pharmaceutical maker plans $188M investment in Mexico Germany-based Boehringer Ingelheim said it is investing $188 million to expand its existing operation in the Mexico City suburb of Xochimilco. The expansion aims to expand the site into the largest tablet production site within the Boehringer group, the company said. 'For over 70 years, Boehringer Ingelheim has believed in Mexico and its people,' Augusto Muench, Boehringer Ingelheim's President for Mexico, Central America, and the Caribbean, said according to Mexico Business News. 'This investment is a commitment to national talent. We expect to generate 1,800 direct jobs and more than 15,000 indirect jobs, with the goal of manufacturing 5 billion tablets from Xochimilco.' The facility produces antihypertensive and antidiabetic drugs. The plant in Xochimilco, which opened in 1973, includes over 1 million-square-feet of production space, and currently employs about 1,000 workers. Founded in 1885, Boehringer Ingelheim is one of the world's largest pharmaceutical companies. Border agents find $7.6M in meth hidden in shipment of roses U.S. Customs and Border Protection officers in South Texas recently discovered 858-pounds of methamphetamine in a shipment manifested as roses, according to a news release. The case occurred on Tuesday, when CBP officers at the Pharr-Reynosa International Bridge cargo facility searched a tractor-trailer arriving from Mexico. The bridge connects Pharr, Texas, with Reynosa, Mexico. Officers discovered 154 packages of alleged methamphetamine hidden inside the shipment of roses worth $7.6 million. CBP officers seized the narcotics and vehicle and turned the case over to Homeland Security Investigations. The post Borderlands Mexico: US trade with Mexico tops $73B in June appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
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HELOC rates today, August 17, 2025: Your low introductory rate may bridge your payments until lower rates kick in
The HELOC interest rate is sticking firm below 9%. Getting a home equity line of credit now will allow you to lock in a low introductory rate, and if the Federal Reserve begins lowering interest rates this fall, perhaps the variable rate will have gone down, too, by the time your initial rate expires. Of course, there are no guarantees when it comes to Fed rate moves. Dig deeper: Is it a good idea to get a HELOC? Here are the pros and cons. This embedded content is not available in your region. HELOC rate Sunday, August 17, 2025 According to Bank of America, the largest HELOC lender in the country, today's average APR on a 10-year draw HELOC remains 8.72%. That is a variable rate that kicks in after a six-month introductory APR of 6.49% in most U.S. states. Homeowners have a huge amount of value tied up in their houses — more than $34 trillion at the end of 2024, according to the Federal Reserve. That's the third-largest amount of home equity on record. With mortgage rates lingering in the high 6% range, homeowners are not going to let go of their primary mortgage anytime soon, so selling a house may not be an option. Why let go of your 5%, 4% — or even 3% mortgage? Accessing some of that value with a use-it-as-you-need-it HELOC can be an excellent alternative. How lenders determine HELOC interest rates HELOC interest rates are different from primary mortgage rates. Second mortgage rates are based on an index rate plus a margin. That index is often the prime rate, which today is 7.50%. If a lender added 1% as a margin, the HELOC would have a rate of 8.50%. Lenders have flexibility with pricing on a second mortgage product, such as a HELOC or home equity loan, so it pays to shop around. Your rate will depend on your credit score, the amount of debt you carry, and the amount of your credit line compared to the value of your home. And average national HELOC rates can include "introductory" rates that may only last for six months or one year. After that, your interest rate will become adjustable, likely beginning at a substantially higher rate. How a HELOC works You don't have to give up your low-rate mortgage to access the equity in your home. Keep your primary mortgage and consider a second mortgage, such as a home equity line of credit. The best HELOC lenders offer low fees, a fixed-rate option, and generous credit lines. A HELOC allows you to easily use your home equity in any way and in any amount you choose, up to your credit line limit. Pull some out; pay it back. Repeat. Meanwhile, you're paying down your low-interest-rate primary mortgage like the wealth-building machine you are. This embedded content is not available in your region. Look for introductory rates, but be aware of a rate adjustment later Today, LendingTree is offering a HELOC rate of 6.50% for a credit line of $150,000. That's likely an introductory rate that will convert to a variable rate later. When shopping lenders, be aware of both rates. And as always, compare fees, repayment terms, and the minimum draw amount. The draw is the amount of money a lender requires you to initially take from your equity. The power of a HELOC is tapping only what you need and leaving some of your line of credit available for future needs. You don't pay interest on what you don't borrow. HELOC rates today: FAQs What is a good interest rate on a HELOC right now? Rates vary so much from one lender to the next that it's hard to pin down a magic number. You may see rates from nearly 7% to as much as 18%. It really depends on your creditworthiness and how diligent a shopper you are. Is it a good idea to get a HELOC right now? For homeowners with low primary mortgage rates and a chunk of equity in their house, it's probably one of the best times to get a HELOC. You don't give up that great mortgage rate, and you can use the cash drawn from your equity for things like home improvements, repairs, and upgrades. Of course, you can use a HELOC for fun things too, like a vacation — if you have the discipline to pay it off promptly. A vacation is likely not worth taking on long-term debt. What is the monthly payment on a $50,000 home equity line of credit? If you take out the full $50,000 from a line of credit on a $400,000 home, your payment may be around $395 per month with a variable interest rate beginning at 8.75%. That's for a HELOC with a 10-year draw period and a 20-year repayment period. That sounds good, but remember, it winds up being a 30-year loan. HELOCs are best if you borrow and pay back the balance in a much shorter period of time.
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Codie Sanchez says money is the sword of the 21st Century. She wants to arm more Americans
Codie Sanchez's mission is to help people build wealth and spark entrepreneurship — a goal she shared with Fox News Digital while discussing her journey and the inspiration behind "Contrarian Thinking." Her journey began as a journalist along the U.S.-Mexico border and observed, "what happens when a border separates us." Sanchez came to understand how deeply socioeconomics can divide people — and even threaten safety — after learning about the violence, particularly against women, along the border. Determined to shed light on these issues, she set her sights on journalism. Then came a pivotal realization: "What would happen if more of us had more money? Because that, I think, is actually the ultimate freedom." "I was a journalist and I realized pretty quickly, wait, if I want to make real change, the way I'm going to be able to do that is actually by being inside of the system as opposed to reporting on it," she said to Fox News Digital. Her Wall Street journey began when she asked herself, "What if I just can get more wealth to multiple different people by building an asset management business? And so I started out in a company called Vanguard." From there, she moved on to Goldman Sachs, State Street, and First Trust. "What I realized along the way is wealth is just super concentrated in the hands of the few. And most people don't have financial literacy and so when I went to First Trust and started buying companies myself, I started to realize, 'Wait a second. I think what I'm doing is just helping more rich people get really rich,' which is cool. Money's great. I like it and I want everybody to have it. There's nothing wrong with being super-rich. I just think there should be more of us." That led her to ask, "So that's when I started thinking, how can we teach more people how to get ownership as opposed to just making more money for those of us on Wall Street?" About her organization, "Contrarian Thinking," Sanchez said, "Our goal is we teach people to become owners. We help people buy businesses. We're basically flipping the script." "So instead, we teach people to buy local businesses, own part of their community and build a legacy," said Sanchez. During the pandemic, Sanchez felt that freedoms were being "taken away" and was grateful to have the financial means to push back, and shared a personal experience her husband went through. "My husband was at a company where that company was attempting to make him, even though he had a medical exemption, do something with his medical history that would have been a direct violation of what the doctor said. And he was a Navy SEAL. And so he didn't have a lot of cash at the time. And they were really pressuring him." The moment underscored the power of financial security. "A normal person might be scared of getting fired, you know, or like you have family you have to take care of, so just do the thing that somebody on high is telling you to do — whatever that thing is. And thankfully, I had been in business for a while, and so I pushed back and was like, get my attorney on the line with these guys and I will happily chat with anybody in the company about how this is completely inappropriate, and we'll go to war if we need to. And it was in that moment I realized, oh, I can push back on the system because I have money. He didn't. And so they were gonna take advantage of that." Sanchez's social media presence skyrocketed during the coronavirus pandemic — something she said she had never expected, having never planned to be online. Today, she has millions of followers across platforms, where she shares advice on finances, business, and life. Sanchez started a newsletter during the pandemic in order to encourage critical thinking during the uncertain time of the pandemic. "I started writing a newsletter, basically first talking about, let's have critical thinking." "I was like, maybe people can't think critically because they're so scared, because they have no resources. So they're just full. Then I thought, well, let's make people richer so maybe they can push back a little bit. It's easier to have a spine when you got a sword. And in our 21st century economy, the sword is money." Sanchez has also put her philosophy into print. "If you want to figure out how to become an owner, if you want to learn how to get income-producing assets, I wrote the book to do it. It's called Main Street Millionaire," she said. Through her book, newsletter, and Contrarian Thinking, Sanchez continues to share strategies to help people gain ownership, achieve financial independence, and create lasting legacies. Watch Codie Sanchez appear on "Fox & Friends" on 8/18 at 6:50 AM ET.
