The Supreme Court on Thursday refused for now to block enforcement of a Mississippi law aimed at regulating the use of social media by children, an issue of growing national concern.
The justices rejected an emergency appeal from a tech industry group representing major platforms like Facebook, X and YouTube.
NetChoice is challenging laws passed in Mississippi and other states that require social media users to verify their ages, and asked the court to keep the measure on hold while a lawsuit plays out.
There were no noted dissents from the brief, unsigned order. Justice Brett Kavanaugh wrote that there’s a good chance NetChoice will eventually succeed in showing that the law is unconstitutional, but hadn’t shown it must be blocked while the lawsuit unfolds.
Mortgage rates at 9-month low
The average rate on a 30-year U.S. mortgage fell this week to its lowest level in nearly 10 months, giving prospective homebuyers a sorely needed boost in purchasing power that could help inject life into a stagnant housing market.
The long-term rate fell to 6.58% from 6.63% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.49%.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell. The average rate dropped to 5.71% from 5.75% last week. A year ago, it was 5.66%, Freddie Mac said.
This is the fourth week in a row that rates have come down. The latest average rate on a 30-year mortgage is now at its lowest level since Oct. 24, when it averaged 6.54%.
Economists generally expect the average rate on a 30-year mortgage to remain above 6% this year. Recent forecasts by Realtor.com and Fannie Mae project the average rate will ease to around 6.4% by the end of this year.
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