Flipping his vote: Sen. Bill Cassidy broke with President Donald Trump to cast the deciding vote advancing a War Powers Resolution that would limit further U.S. military action in Iran without congressional approval. Cassidy said the administration has failed to provide lawmakers enough clarity on its strategy. The move marks a notable post-primary split for the Louisiana Republican, signaling growing GOP discomfort with the conflict. Read more from Louisiana Illuminator.
Highest since July: Mortgage rates jumped to their highest level since July, with the average 30-year fixed loan rising to 6.75% as bond yields climbed amid concerns over the Iran war. The increase is squeezing affordability, adding about $167 to the monthly payment on a median-priced home. Still, pending home sales rose in April, suggesting buyers remain cautiously active despite uncertainty. Read more from CNBC.
Cities shell out for projects: As flooding risks intensify, coastal cities are turning to massive engineering projects to protect residents and infrastructure. Bloomberg highlights Tokyo’s $2 billion underground flood tunnel system, Jakarta’s planned $80 billion seawall and smaller fixes in Nairobi, where black soldier flies help clear drain-clogging trash. The climate adaptation market could reach $1.3 trillion, though experts warn resilience must pair with emissions cuts. Read more from Bloomberg. A subscription may be required.
