Ticker: Victoria’s Secret website is down in the US; Average rate on a US 30-year mortgage rises to 6.89%

Victoria’s Secret has taken down its U.S. website and says some in-store services will also be unavailable as it addresses a “security incident.”

A message to customers remained in place of the popular lingerie brand’s normal shopping site Thursday, stating that it had halted these operations “as a precaution.”

“Our team is working around the clock to fully restore operations,” the message read.

Ohio-based Victoria’s Secret did not provide many details about the “security incident,” or directly confirm whether it was a cyber or ransomware attack. When asked for further information Thursday, a spokesperson just said that the company “immediately enacted our response protocols” and has engaged with third-party experts.

30-year mortgage rises to 6.89%

The average rate on a 30-year mortgage in the U.S. rose this week to its highest level since early February, further pushing up borrowing costs for homebuyers.

The rate increased to 6.89% from 6.86% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.03%.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also rose. The average rate ticked up to 6.03% from 6.01% last week. It’s still down from 6.36% a year ago, Freddie Mac said.

Mortgage rates are influenced by several factors, from the Federal Reserve’s interest rate policy decisions to bond market investors’ expectations for the economy and inflation. The key barometer is the 10-year Treasury yield, which lenders use as a guide to pricing home loans.

 

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