Mortgage rates rise, Rivian stock slumps on plans to raise $1.5 billion: Yahoo Finance Live

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The average 30-year mortgage rate has risen to 7.49%, according to Freddie Mac. We’ll be discussing the rise in rates with Redfin CEO Glenn Kelman (RDFN) at 3:35 p.m. ET. Meanwhile, Rivian (RIVN) shares are being pummeled after the EV maker announced plans to raise $1.5 billion through a convertible note offering. Other trending tickers on Yahoo Finance include Coca-Cola (KO), BlackBerry (BB), and Lucid Group (LCID).Top guests on Yahoo Finance Live today include:3:05 p.m. ET - John Stoltzfus, Oppenheimer Asset Management Managing Director and Chief Investment Strategist3:25 p.m. ET - Scott Devitt, Wedbush Securities Analyst3:35 p.m. ET - Glenn Kelman, Redfin CEO4:05 p.m. ET - Joseph Wang, Monetary Macro CIO4:20 p.m. ET - Karin Kimbroug, LinkedIn Chief Economist

The average 30-year mortgage rate has risen to 7.49%, according to Freddie Mac. We’ll be discussing the rise in rates with Redfin CEO Glenn Kelman at 3:35 p.m. ET. Meanwhile, Rivian shares are being pummeled after the EV maker announced plans to raise $1.5 billion through a convertible note offering. Other trending tickers on Yahoo Finance include Coca-Cola , BlackBerry , and Lucid Group .3:05 p.m.

Despite fanfare, federal funding and even a visit from the prime minister, the owner of an N.W.T. mine project is closing down its processing plant in Saskatoon. Vital Metals owns Cheetah Resources, which is the owner of the Nechalacho mine project, about 100 kilometres south-east of Yellowknife. The project is one of the first rare earth metal mines in Canada.

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Oil demand: We are still in an oil bull market, analyst explainsOil demand remains high despite inflation and other economic pressures keeping consumers on tightened budgets. Claudio Galimberti, Rystad Energy SVP & Head of Americas Research, joins Yahoo Finance Live to share his oil demand predictions for 2024. 'We are still in that phase' of an oil bull market, Galimberti tells Yahoo Finance, making a callback to previous comments on the energy market's reaction to OPEC's production cuts. Galimberti predicts a 'very sizable' rate of oil demand heading into 2024, coinciding with forecasts for extended production cuts from Saudi Arabian producers. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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