Mortgage rates below 5% for first time since Truss budget


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Average two-year mortgage rates have fallen to 4.99%, the lowest point since September 2022.

Zelensky's announcement comes amid growing concerns over Ukraine's military capabilities and the sustainability of its defense efforts. The revelation is particularly poignant as it coincides with the second anniversary of the invasion, a period marked by intensified Russian offensives and Ukraine's struggles with ammunition shortages and delayed Western aid. The Ukrainian leader used the occasion to call for continued international support, stressing that the outcome of the war hinges on the assistance provided by allies. "This is a big war, and we know that to win it, we need support," he said, highlighting the critical role of Western weaponry in countering Russian advances.
The forum in Kyiv brought together Ukrainian officials, military leaders, and international dignitaries, including European Commission President Ursula von der Leyen, who attended to show solidarity. Von der Leyen praised Ukraine's resilience, noting that the country has defied expectations by not only surviving but also reclaiming significant territory. "Two years ago, Putin expected to parade in the streets of Kyiv after just a few days. Two years later, he is parading burnt-out Russian tanks in Moscow," she remarked, underscoring the symbolic failures of Russia's campaign.
Zelensky's disclosure on casualties breaks from Ukraine's previous policy of withholding such information to avoid demoralizing the public and providing strategic advantages to Russia. Independent estimates have varied widely; for instance, US officials have suggested Ukrainian deaths could be around 70,000, with hundreds of thousands wounded, while Russian claims have been dismissed as propaganda. The Ukrainian figure of 31,000 killed aligns more closely with some Western intelligence assessments but remains a stark reminder of the human cost. Analysts note that this number likely excludes civilian deaths, which the United Nations estimates at over 10,000, with the actual toll possibly much higher due to unreported cases in occupied territories.
The war's progression has seen Ukraine make notable gains, such as the liberation of Kherson and parts of Kharkiv, but recent setbacks include the loss of Avdiivka, a key eastern town captured by Russian forces after months of brutal fighting. Zelensky described the withdrawal from Avdiivka as a tactical move to preserve lives, emphasizing that Ukraine's military strategy prioritizes the safety of its soldiers. He also addressed the broader geopolitical context, criticizing delays in US aid due to congressional gridlock and expressing optimism about eventual support. "The situation on the battlefield depends directly on the speed of our supplies," he asserted.
In addition to military updates, Zelensky outlined Ukraine's strategic priorities for 2024, including enhancing drone production and air defenses. He announced plans to produce one million drones this year, a significant ramp-up from previous capabilities, aiming to leverage asymmetric warfare tactics against Russia's larger conventional forces. The president also touched on economic resilience, noting that despite the war, Ukraine has managed to keep its economy afloat through reforms and international loans, though challenges like corruption and reconstruction loom large.
The forum also featured discussions on Ukraine's path to EU and NATO membership. Zelensky reiterated his commitment to these goals, viewing them as essential for long-term security. Von der Leyen affirmed the EU's support, stating that accession talks could begin as early as June if Ukraine meets the necessary criteria. However, NATO membership remains a contentious issue, with some allies wary of escalating tensions with Russia.
On the Russian side, the article contrasts Ukraine's transparency with Moscow's opacity. Russia has not released official casualty figures since September 2022, when it claimed around 6,000 deaths, a number widely regarded as an undercount. Independent media and analysts estimate Russian losses to be in the tens of thousands, with some reports suggesting up to 300,000 casualties including wounded. The Kremlin's narrative continues to portray the invasion as a "special military operation" succeeding against alleged threats, but domestic discontent is evident through events like the recent death of opposition figure Alexei Navalny, which has sparked protests.
Zelensky's speech included a message of defiance and unity, urging Ukrainians to remain steadfast. He highlighted stories of heroism, such as soldiers holding the line in Donbas and civilians contributing to the war effort through volunteering and innovation. The president also addressed the psychological toll, acknowledging the fatigue among troops and the population but insisting that victory is achievable with perseverance and allied backing.
The article explores the broader implications of the casualty figures. For Ukraine, revealing the numbers could bolster morale by countering Russian disinformation and demonstrating accountability. However, it also risks highlighting the war's grim reality, potentially affecting recruitment and public support. Internationally, the disclosure may pressure Western governments to expedite aid, especially as elections in the US and Europe could shift priorities. Analysts warn that without sustained support, Ukraine faces a protracted conflict, with Russia potentially gaining ground through attrition.
In the context of global security, the war has reshaped alliances, with NATO expanding to include Finland and Sweden, and increased defense spending across Europe. Zelensky's forum served as a platform to reinforce these ties, with calls for a "new security architecture" to prevent future aggressions. He proposed inviting Russia to a peace summit in Switzerland, though skepticism remains about Moscow's willingness to negotiate meaningfully.
Overall, Zelensky's address paints a picture of a nation resilient yet strained, committed to defending its sovereignty against overwhelming odds. The casualty revelation underscores the sacrifices made and the urgent need for international solidarity to tip the balance in Ukraine's favor. As the war enters its third year, the focus shifts to sustaining momentum amid evolving battlefield dynamics and geopolitical uncertainties. (728 words)
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