Better.com CEO warns recession could spur home buying

April 17, 2026

Summary

Better.com's CEO said a recession could create a homebuying opening as mortgage rates edged lower.

Why this matters

The story highlights how lower mortgage rates and recession concerns could affect homebuying decisions. It also shows how lenders are using artificial intelligence and asset-based programs to change mortgage access and processing.

Better.com CEO Vishal Garg said he expected a recession and argued that an economic downturn could create an opening for some renters to buy homes.

Speaking at the Semafor World Economy event in Washington, D.C., Garg said, “I personally believe a recession is coming, and recessionary times are the best time to stop paying rent and be your own landlord.” He added that downturns can be a good time to move from renting to owning.

His comments came as mortgage rates eased. According to the Mortgage Bankers Association, the average rate for a 30-year fixed mortgage fell to 6.42% in the week ending April 10, 2026, the second straight weekly decline and the lowest level in about a month. The group said the drop was tied in part to lower Treasury yields.

At the same conference, Citadel founder Ken Griffin also warned that energy-market disruptions could trigger a downturn. He said a prolonged closure of the Strait of Hormuz, which carries about 20% of global energy flows, would likely push the world into recession. “Let’s assume the strait is shut down for the next six to 12 months, the world’s going to end up in a recession,” Griffin said. “There’s no way to avoid that.”

Garg also cited labor-market changes tied to artificial intelligence and signs of consumer strain, including the financing of large purchases through payment plans.

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Middle East

South Lebanon bridge reopens after ceasefire begins

The 10-day ceasefire between Lebanon and Israel was announced by President Donald Trump.

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Hundreds of displaced residents waited Friday for bulldozers to reopen the Qasmiyeh bridge in south Lebanon, hours after an Israel-Hezbollah ceasefire took effect.

The bridge over the Litani River, a main route between southern areas and the rest of the country, was bombed by Israel shortly before the truce began at midnight. Three bulldozers working under Lebanese army supervision started filling the crater at dawn.

As soon as the crossing became passable, motorcycles and then cars moved through single file. By 9 a.m., the highway between Sidon and Tyre was backed up for kilometers, with tens of thousands of vehicles heading south, many carrying mattresses, kitchenware, and blankets.

Many of those returning had fled at the start of the war and said they did not know whether their homes were still standing.

“We set off an hour before the ceasefire took effect so we could reach the bridge once it opens, allowing us to return to our town,” said Amani Atrash, 37, who had been waiting with her family in a line of cars northeast of Tyre. “The wait is very difficult because we want to get there as quickly as possible.”

The war began on March 2 after Hezbollah launched rockets toward Israel, which the group said was retaliation for the killing of Iran’s supreme leader at the outset of the Middle East war. Israel responded with airstrikes and a ground invasion in southern Lebanon.

Lebanese authorities said the war killed more than 2,100 people and displaced more than 1 million, especially from Hezbollah strongholds in Beirut’s southern suburbs and south Lebanon.

Despite warnings against returning to the south from Hezbollah, Lebanese officials, and the Israeli army, displaced people continued moving back.
Personal Finance

Better.com CEO warns recession could spur home buying

Mortgage preapprovals and refinancing applications are rising, while home purchase activity remained subdued, suggesting many buyers were still cautious.

Full story +

Better.com CEO Vishal Garg said he expected a recession and argued that an economic downturn could create an opening for some renters to buy homes.

Speaking at the Semafor World Economy event in Washington, D.C., Garg said, “I personally believe a recession is coming, and recessionary times are the best time to stop paying rent and be your own landlord.” He added that downturns can be a good time to move from renting to owning.

His comments came as mortgage rates eased. According to the Mortgage Bankers Association, the average rate for a 30-year fixed mortgage fell to 6.42% in the week ending April 10, 2026, the second straight weekly decline and the lowest level in about a month. The group said the drop was tied in part to lower Treasury yields.

At the same conference, Citadel founder Ken Griffin also warned that energy-market disruptions could trigger a downturn. He said a prolonged closure of the Strait of Hormuz, which carries about 20% of global energy flows, would likely push the world into recession. “Let’s assume the strait is shut down for the next six to 12 months, the world’s going to end up in a recession,” Griffin said. “There’s no way to avoid that.”

Garg also cited labor-market changes tied to artificial intelligence and signs of consumer strain, including the financing of large purchases through payment plans.
Health

Trump names CDC director pick, fills key agency roles

Since Trump returned to office, the Atlanta-based CDC has been led by temporary leaders. The agency is overseen by Kennedy.

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President Donald Trump named Dr. Erica Schwartz as his nominee to lead the Centers for Disease Control and Prevention (CDC) and announced several other senior appointments at the agency.

In a Truth Social post Thursday, Trump said Schwartz, a former deputy surgeon general during his first term, would be his next pick for CDC director. Schwartz attended Brown University for college and medical school and served as a physician in the U.S. military. Trump called her a “STAR!”

Trump also named Sean Slovenski as CDC deputy director and chief operating officer, Dr. Jennifer Shuford as CDC deputy director and chief medical officer, and Dr. Sara Brenner as senior counselor for public health to Health and Human Services Secretary Robert F. Kennedy Jr.

At a House Appropriations Committee hearing Thursday, Kennedy told lawmakers the new CDC team would revolutionize the agency and get it “back on track.”

Trump’s first CDC pick was former Florida congressman Dr. David Weldon, but his Senate confirmation hearing in March 2025 was canceled. Weldon said he had been told there were not enough senators willing to vote for him.

Trump next chose Susan Monarez, who had been serving as acting CDC director. She was confirmed by the Senate, but was removed less than a month later after the administration said she was not “aligned with their agenda.” Her removal prompted several senior scientific leaders at the CDC to resign in protest.

National Institutes of Health Director Jay Bhattacharya has overseen the agency for the past few weeks.
World

U.S. Says Iran Ship Interdictions Extend Globally

Gen. Dan Caine said the U.S. would interdict ships of any nationality traveling to or from Iranian ports and that enforcement would occur in Iran’s territorial seas and international waters.

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The U.S. military said Thursday that its campaign to interdict Iranian-linked shipping extended beyond the Middle East, alongside a blockade of Iranian ports and coastline.

Air Force Gen. Dan Caine said U.S. forces in other commands, including the Pacific under Adm. Samuel Paparo, would pursue Iranian-flagged vessels and ships providing material support to Iran, including so-called Dark Fleet oil tankers. He said no Iranian ships had been boarded in the U.S. Central Command region so far, but did not say whether any had been interdicted elsewhere.

Speaking at a briefing with Defense Secretary Pete Hegseth and CENTCOM commander Adm. Brad Cooper, Caine said the Navy had issued warnings to ships approaching the blockade and had carried out 13 such actions since it began.

CENTCOM later said vessels subject to boarding and seizure included Iranian ships, vessels under active Office of Foreign Assets Control sanctions, and ships suspected of carrying contraband, including weapons, ammunition, fissile materials, enrichment equipment, metals, oil, and lubricants.

Hegseth said U.S. forces were prepared to resume combat operations if directed by President Donald Trump and said the U.S. was monitoring Iranian efforts to reopen underground missile facilities damaged in the war. Reuters reported that U.S. and Iranian negotiators were now seeking a temporary memorandum to prevent renewed conflict, rather than a broader peace deal, though no date for further talks had been set.

The International Energy Agency’s Fatih Birol said that Europe had “maybe six weeks of jet fuel left,” underscoring wider economic risks from reduced Middle East oil exports.
World

More than 10,000 U.S. troops enforce Iran blockade

In the first three days of the operation, 14 ships turned around rather than approach the blockade, according to U.S. Central Command, which oversees the war involving Iran.

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More than 10,000 U.S. troops are helping enforce a blockade on Iranian ports, and no ships have been boarded so far, the military said Thursday.

Some Iran-linked or sanctioned vessels that left the Persian Gulf through the Strait of Hormuz appeared to stop, switch off radio transponders, or head back toward Iran’s coast, according to shipping data firms.

The blockade is being enforced in Iran’s territorial seas and international waters, not in the Strait of Hormuz. Vessels that approach it are warned, Gen. Dan Caine, chairman of the Joint Chiefs of Staff, told reporters at the Pentagon.

“Any ship that would cross the blockade would result in our sailors executing pre-planned tactics designed to bring the force to that ship — if need be, board the ship and take her over,” he said.

U.S. Central Command released a recording of a radio message sent to vessels in the region saying the military was prepared to use force if needed to compel compliance.

“Vessels will be boarded for interdiction and seizure transiting to or from Iranian port,” the message said.

Defense Secretary Pete Hegseth said “less than 10% of America’s naval power” was being used to enforce the blockade. The Navy has 16 warships in the Middle East — 11 destroyers, three amphibious assault ships, an aircraft carrier, and a littoral combat ship — out of a battle force of about 300 warships.

Aircraft, surveillance, reconnaissance, and intelligence operations are also supporting the naval effort.

Caine said the effort extended beyond the Middle East, with U.S. military assets in other regions, including the Pacific, set to pursue vessels that illegally ship Iranian oil or provide material support to Tehran.

He also described heavy maritime traffic near the blockade.

“There is a lot out there,” Caine said. “It is like driving a sports car through a supermarket parking lot on a payday weekend, with thousands of kids in that parking lot, as you attempt to maneuver through there to get to that ship that would attempt to run that blockade.”
Europe

Russian strikes kill 19 in Kyiv, other cities

President Volodymyr Zelensky said the attacks showed Russia did not merit any easing of sanctions. “There can be no normalisation of Russia as it is today. Pressure on Russia must work. And it is important to fulfill every promise of assistance to Ukraine on time,” he said.

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Russian drone and missile strikes on Kyiv and other Ukrainian cities killed at least 19 people, including a 12-year-old child, and wounded about 100 others overnight into Thursday, Ukrainian officials said.

Four people, including the child, were killed in Kyiv, Mayor Vitali Klitschko said. Nine people were killed in Odesa, five in and around Dnipro, and another person was killed later Thursday in Sumy, according to regional officials. Rescue operations were ongoing, Deputy Prime Minister Oleksiy Kuleba said, and the toll could rise.

In Kyiv, fires broke out in several areas, and debris damaged apartment buildings and a hotel. Klitschko said a low-flying drone hit an 18-story building early Thursday. Officials said 60 people were injured in the capital, including four emergency medical workers and two police officers.

Russia’s Defense Ministry said it had carried out a “massive” strike on Ukrainian energy targets used by Ukrainian forces, as well as cruise missile and drone production facilities, without providing details. Ukraine’s drone forces commander said Ukrainian forces struck two oil depots in Russian-occupied Crimea and infrastructure in the southern Russian port of Tuapse.

In Russia, officials and media said a Ukrainian drone attack on Tuapse killed two people, including a 14-year-old girl, wounded seven, and caused a large fire. Tuapse is home to an oil refinery and an export hub for oil, coal, and fertilizer.

Ukraine’s air force said it shot down or neutralized 31 missiles and 636 drones in the 24 hours to 7 a.m. Thursday, while 12 missiles and 20 drones hit targets. In Odesa, officials said a high-rise residential building, port facilities, and other infrastructure were damaged. In Kharkiv, officials said two people were injured in drone strikes.
Europe

France to cover reusable menstrual products

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France’s social security system will reimburse reusable menstrual cups and period underwear for women under 26 and for women of any age receiving special health care support because of low income, the government said Thursday.

Eligible women will be reimbursed after buying the products at a pharmacy. Parliament approved the measure as part of France’s 2024 social security budget.

Implementation was delayed because no decree had been issued, prompting criticism from feminist groups and companies that make reusable menstrual products.

A November survey of 4,000 women in France found that 1 in 10 used alternatives to standard period products, including torn clothing, because of tight budgets, according to the charity Dons Solidaires.

France cut the sales tax on period products in 2016 from 20% to 5.5%.

In 2020, Scotland became the first country to make period products universally free in public buildings.
Europe

France withdraws anti-Semitism bill before debate

The government said it will reintroduce a similar measure in June, though details have not been released.

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Supporters of a draft law linking anti-Semitism in France to hostility toward Israel withdrew the bill hours before it was due to be debated in the National Assembly.

In its current form, the bill would have broadened France’s offense of “apology for terrorism” to include speech that “implicitly” justifies or downplays acts deemed terrorist. It also would have made it illegal to call for the “destruction” of any country recognized by France, punishable by five years in prison.

The bill’s preamble said: “Today, anti-Jewish hatred in our country is fuelled by an obsessive hatred of Israel, whose very existence is regularly delegitimised and criminalised.” It added: “This hatred of the State of Israel is now inseparable from hatred of Jews.”

The proposal, known as the “Yadan law” after lawmaker Caroline Yadan, divided the Assembly. Left-wing lawmakers, including the Socialist Party, the Greens, and France Unbowed, said it could restrict legitimate criticism of Israel by treating it as anti-Semitic. The far-right National Rally, the right-wing Les Républicains, the government’s center-right coalition, and some Socialists, including former President François Hollande, had backed the bill.

A petition on the National Assembly website opposing the bill had received more than 700,000 signatures by Thursday, above the 500,000 needed for possible debate in the chamber. Even so, the government coalition and the far right voted against debating the petition.

France has reported a sharp increase in anti-Semitic acts since the Hamas-led terrorist attacks on Oct. 7, 2023, and Israel’s military campaign in Gaza. In 2025, more than half of all reported anti-religious acts targeted the Jewish community.

But a 2024 report by France’s National Consultative Commission on Human Rights said its surveys did not find a statistically significant link between negative views of Zionism and anti-Semitic prejudice. “It is therefore difficult to view anti-Zionism as the key driver of contemporary anti-Semitism,” the report said.

Support for the bill appeared to weaken before the planned vote. Socialist Party leader Olivier Faure said the party would oppose it, and members of the centrist Democratic Movement (MoDem) distanced themselves from the text, saying it “undermines the cause it seeks to defend.”
Middle East

Trump says Israel, Lebanon agreed to 10-day truce

Trump said on Truth Social that the ceasefire would begin at 5 p.m. Eastern time. His announcement came two days after Lebanon and Israel held their first direct diplomatic talks in decades in Washington. Hezbollah had opposed those talks.

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President Donald Trump said Thursday that Israel and Lebanon had agreed to a 10-day ceasefire, a pause that could affect efforts to extend a separate ceasefire between Iran, the United States, and Israel.

Israel had no immediate official comment. Hezbollah, the Iranian-backed militant group that has been fighting Israeli forces in Lebanon, said “any ceasefire must be comprehensive across all Lebanese territory and must not allow the Israeli enemy any freedom of movement.”

Hezbollah also said that “Israeli occupation on our land grants Lebanon and its people the right to resist it, and this matter will be determined based on how developments unfold,” signaling possible difficulty in maintaining a truce.

Israel has carried out a ground invasion in southern Lebanon, where its troops have fought Hezbollah near the border. It was unclear whether any ceasefire would require an Israeli withdrawal.

Lebanon has said it wanted a ceasefire before more negotiations and has pledged to work toward disarming Hezbollah. Lebanon and Israel have technically been at war since 1948, and Lebanon remains divided over engagement with Israel.

Trump also invited the leaders of Israel and Lebanon to the White House for what he called “the first meaningful talks” between the countries since 1983. “Both sides want to see PEACE, and I believe that will happen, quickly,” Trump wrote.

Separately, Pakistan’s army chief, Gen. Asim Munir, met Thursday with Iranian Parliament Speaker Mohammad Bagher Qalibaf amid efforts to extend a two-week ceasefire that has paused nearly seven weeks of war involving Israel, the U.S., and Iran. Iranian state television gave no details, and Pakistan did not immediately comment.

The White House said any further U.S.-Iran talks would likely take place in Islamabad, though no decision had been made. Regional officials told AP that the U.S. and Iran had an “in-principle agreement” to extend the ceasefire for more diplomacy, speaking on condition of anonymity because they were not authorized to discuss the talks.

Mediators were focused on Iran’s nuclear program, the Strait of Hormuz, and compensation for wartime damage. Iran said it was open to discussing the type and level of uranium enrichment, but that it “must be able to continue enrichment,” according to state media.
Europe

Europe plans Hormuz mission as shipping crisis grows

The United States was sending minesweepers to the Persian Gulf as it enforced a blockade that also covers the Gulf of Oman and the full Iranian coastline. U.S. Central Command said Thursday that the Navy had turned around 14 ships in the Strait of Hormuz, though it was unclear how fully the blockade was being…

Full story +

European leaders were preparing a multinational military deployment to the Strait of Hormuz as shipping disruptions tied to the U.S.-Iran impasse raised costs and increased pressure on energy supplies.

France and the United Kingdom were set to chair a meeting Friday of about 40 nations on protecting shipping through the strategic waterway, which typically carries about 20% of the world’s oil.

The strait has been largely closed since the joint U.S.-Israel military operation against Iran began nearly two months ago. It is now under a U.S. Navy blockade aimed at taking control from Iran, whose retaliatory actions have sharply reduced maritime traffic.

The disruption has increased pressure on Europe, which depends heavily on oil and gas moving through the Persian Gulf. Gas prices have risen, and airline industry leaders warned this week of a jet fuel shortage that could force flight cuts within weeks.

“The unconditional and immediate reopening of the Strait is a global responsibility, and we need to act to get global energy and trade flowing freely again,” British Prime Minister Keir Starmer said Friday.

Starmer and French President Emmanuel Macron said they aimed to create a multinational effort to protect freedom of navigation through the strait. According to Starmer, the goal was to deploy a combined military mission “as soon as conditions allow.”

European allies have faced pressure from President Donald Trump to help reopen the strait. But Defense Secretary Pete Hegseth said Thursday that current European plans, focused on support once conditions improve, did not come soon enough.

“When shots were fired and those countries were needed the most, they weren’t there,” Hegseth said. “They weren’t in the strait. They weren’t alongside us. Their leaders weren’t rallying what they have of their navies.” He added that allied support after U.S. Central Command “does the heavy lifting” would be welcomed “after the fact.”

At Friday’s meeting, German Chancellor Friedrich Merz was expected to outline capabilities Berlin could contribute, including mine-hunting boats, an escort ship, and reconnaissance aircraft, according to the German Press Agency.

France and Germany disagree on whether to include the United States in the planning, with Merz favoring coordination with Washington and Macron opposed, Politico reported Thursday.