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Ukraine president acknowledges military incursion into Russia as fighting continues

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Ukrainian President Volodymyr Zelenskyy acknowledged for the first time that his country’s military forces were fighting in a surprise military incursion into Russia’s Kursk border region.

In his night video address, Zelenskyy said he discussed the ongoing incursion “to push the war onto the aggressor’s territory” with top Ukrainian commander Oleksandr Syrskyi.

“Ukraine is proving that it can indeed restore justice and ensure the necessary pressure on the aggressor,” he said.

Meanwhile, Ukraine’s incursion into Russia continued for a sixth day. The largest such attack since the full-scale invasion and unprecedented for its use of Ukrainian military units on Russian soil, it caught Moscow unaware and was an embarrassment to Russian military leaders who have scrambled to contain the breach.

An aerial view shows what is said to be a burning Ukrainian tank in Kursk region
An aerial view shows what is said to be a burning Ukrainian tank following a Russian army strike in the area bordering Ukraine in the Kursk region, Russia, in this still image from video released August 11, 2024.

Russian Defence Ministry/Handout via REUTERS


The exact aims of the operation remain unclear and Ukrainian military officials have adopted a policy of secrecy, presumably to ensure its success. Military experts have said that it is likely intended to draw Russian reserves away from the intense fighting in Ukraine’s eastern Donetsk region, while a presidential advisor suggested it may strengthen Kyiv’s hand in any future negotiations with Russia.

Overnight, fighting continued between the two countries as a Russian drone and missile barrage on Kyiv killed two people including a 4-year-old boy. The bodies of a 35-year-old man and his son were found under rubble after fragments of missiles fell on a residential area in Kyiv’s suburban Brovary district, according to Ukraine’s State Emergency Service on Sunday. Another three people in the district were also injured in the attack.

In Russia, Kursk’s regional governor said that a Ukrainian missile shot down by Russian air defenses fell on a residential building, wounding 13 people.

Russia attacked Ukraine with four ballistic missiles and 57 Shahed drones, Ukraine’s Air Force said. Air defenses shot down 53 drones.

Zelenskyy, citing preliminary information, said that Russia had used a North Korean missile in the strike. Ukraine and the U.S. have previously said that Russia has used North Korean missiles in the war.

Zelenskyy reiterated calls to Western allies to step up in assistance to Ukraine, and that “to really stop Russian terror, we need not only a full-fledged air shield that will protect all our cities and communities, but also strong decisions from partners — decisions that will remove restrictions on our defensive actions.”

Aftermath of a Russian missile attack in Kyiv region
Local residents stand next to a residential building heavily damaged during a Russian missile strike, amid Russia’s attack on Ukraine, in the village of Rozhivka in Kyiv region, Ukraine August 11, 2024.

Valentyn Ogirenko / REUTERS


In Russia, the Defense Ministry said 35 drones were shot down overnight over the Kursk, Voronezh, Belgorod, Bryansk and Oryol regions.

Ukraine has not commented on the Sunday drone attacks inside Russia. But it comes as Ukraine has increased the pace of similar drone attacks largely targeting military infrastructure and oil depots in recent weeks.

Meanwhile, Belarus said it was sending more troops to its border with Ukraine on Saturday, saying Ukrainian drones had violated its airspace as part of Kyiv’s military incursion into Russia’s Kursk region.

Authoritarian leader Alexander Lukashenko said Belarusian air defense forces destroyed dozens of targets flying from Ukraine over the Mogilev region, which borders Russia, on Friday evening.

“The Ukrainian armed forces violated all rules of conduct and violated the airspace of the Republic of Belarus. In the eastern direction, very close to us in the Kostyukovichi district,” Lukashenko said at a meeting in Minsk on Saturday.

Belarusian Defense Minister Viktor Khrenin said Belarus regards the violation of its airspace as a provocation and is “ready for retaliatory action.”



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3 home equity loan risks to know this November

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Before borrowing home equity now, homeowners should familiarize themselves with some risks.

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While interest rates on traditional borrowing products like credit cards and personal loans are high right now – as they’ve been for much of the last few years – rates on home equity loans and home equity lines of credit (HELOCs) are in the single digits. And those rates could fall further if the Federal Reserve issues additional interest rate cuts to follow up on its September reduction. Combined with the knowledge that the average homeowner has approximately $330,000 in home equity right now, it’s understandable if borrowers are considering turning to home equity loans to help make ends meet.

But while there are timely benefits to using a home equity loan right now, there are also some significant risks that borrowers should be aware of heading into November. Below, we’ll break down three important ones to know before right now.

See what home equity loan rate you could qualify for here.

3 home equity loan risks to know this November

Home equity loans can benefit a wide swath of homeowners, but there are some inherent risks to the product that they should navigate around this November. Specifically, they should know that:

Interest rates could drop

Interest rates on home equity loans could and likely will fall in November if the Fed proceeds with another anticipated rate cut. That’s an advantage, on paper, but it means that the rate you secure earlier in the month may not be as low as what’s readily available later in November or in December. And you won’t be able to take advantage because home equity loan rates are fixed and will need to be refinanced to secure a lower rate. In this climate, then, a HELOC, which comes with variable interest rates subject to change monthly may be better. A HELOC will likely have lower rates — and, thus, lower payments — for multiple months to come as interest rates decline.

Get started with a HELOC now.

You may have an extra expense

As noted, home equity loan rates could drop, perhaps by a significant margin, after you’ve already opened a loan. You’ll then need to refinance to secure that newer rate and that will come at a cost. Home equity loan refinancing typically costs 1% to 5% of the total loan value. And if you’re taking out a significant amount of equity, that could prove to be a costly expense. To avoid this extra expense, then, it’s again worth considering a HELOC. HELOC rates adjust independently with no action — or expense — required on behalf of the borrower.

You may be tempted to overborrow

As mentioned above, the average home equity amount is closing in on $330,000 right now. That’s a lot of money to utilize, particularly at a relatively low interest rate. Knowing this, it may be tempting to overborrow right now. But that would be a mistake. Your home functions as collateral when borrowing home equity from a lender. And, if you withdraw too much and can’t repay your debt, you could risk losing your home in the process. So calculate your exact needs and borrow only that much with a home equity loan. If you don’t know precisely how much you need to borrow, consider a HELOC, which has more flexibility and works similarly to a revolving line of credit like a credit card.

The bottom line

Home equity loans offer unique benefits for borrowers, even now (they have slightly lower rates than HELOCs currently). But there are some timely risks to know this November, too, like the potential to get locked in at a higher rate as the overall rate climate cools, the extra expense of having to refinance and the temptation to overborrow via one lump sum. By understanding these risks and working around them via alternatives like HELOCs, home equity users can better position themselves for financial success, both in November and for the long term.

Have more questions? Learn more about home equity loans and HELOCs here.



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Why Kamala Harris is campaigning in Texas with race in homestretch

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Why Kamala Harris is campaigning in Texas with race in homestretch – CBS News


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Kamala Harris will be joined by Beyoncé at a rally in Houston, Texas, on Friday with just 11 days remaining until Election Day. CBS News congressional correspondent Scott MacFarlane has more on why Harris is campaigning in a non-battleground state with the race winding down.

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Trump says America is “like a garbage can” at campaign rally

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Trump says America is “like a garbage can” at campaign rally – CBS News


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Former President Donald Trump told supporters at a rally in Arizona that the U.S. is “like a garbage can” as he talked about illegal immigration Thursday. CBS News political correspondent Caitlin Huey-Burns has more.

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