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Fed Chairman Jerome Powell told reporters a rate cut may be coming in September, which is in line with market expectations. The unsurprising news isn’t likely to impact mortgage rates in the short term, but the start of the rate-cutting cycle should help push them down gradually throughout the year.

The twin-peaked lumber bubble of 2021 and 2022 that once drove home building costs through the roof and exacerbated inflation is now nothing more than a memory. Spot lumber prices have plummeted 75% from their May 2021 record high of $1,514 per thousand board feet to just $366 this week, roughly matching pre-pandemic levels, according to Random Lengths’ Framing Lumber Composite Price Index.

While wine grape varieties in California often change to reflect what is in or out of vogue with winemakers and consumers, the types and styles of wines that are made are also affected by trellising choices in the vineyard, which can significantly impact the health and vigor of the grapes. Trellising systems have evolved to encompass an increased understanding of viticulture and winemaking in the state.

Corporate owner Treasury Wine Estates will begin a multimillion-dollar project to protect and modernize the original 1885 building in Rutherford where André Tchelistcheff worked. Few Napa wineries have the history of Beaulieu Vineyard. In 1900, Georges de Latour founded the winery when he purchased a four-acre vineyard in Rutherford.

In June, as the Boston Celtics celebrated a record-breaking 18th title with a triumph over the Dallas Mavericks, the obligatory locker room Champagne drenching served as cover photo for many media outlets. A combination of Moët & Chandon — featured via its coveted role as the NBA’s official Champagne.

Total mortgage application volume surged nearly 16% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.02% last week from 7.07%.