Current Events in February 2025

Social media sites are filled with rants about the high cost of eggs, driven higher by bird flu outbreaks across the country. McDonald’s is attempting to capitalize on consumer angst about eggs by offering its Egg McMuffin for $1.

It’s a one-day promotion to coincide with the 50th anniversary of the iconic sandwich’s introduction. On Sunday, March 2, the chain is lowering the price to $1 – if the Egg McMuffin is ordered through the McDonald’s app. If the company loses money on the sale, it hopes to offset that by enticing more consumers to download the app.

"At McDonald's, breakfast isn't just a meal; it's a cherished tradition and cornerstone of our brand," McDonald's USA President Joe Erlinger said in a press release. 

"Every morning when we open our doors, we are a breakfast restaurant. Whether it’s my personal favorite, the Egg McMuffin, or our crispy Hash Browns, fluffy hotcakes, or sweet and savory McGriddles, we’re all about giving our customers the best start to their day. Our fans know they can always count on us for a one-of-a-kind breakfast experience, anchored in great value and high-quality ingredients."

Other offers

Here’s the complete rundown of the promotion:

• Egg McMuffin or Sausage McMuffin with Egg breakfast sandwich for just $1, available exclusively through the McDonald’s App on Sunday, March 2.

• Two McMuffin sandwiches! From March 3 through March 30, consumers can get a BOGO Sausage McMuffin with Egg when making a McDelivery order in the McDonald's App.

• Bagel Sandwiches are Now Nationwide: For the first time ever, McDonald’s bagel sandwiches are now available across the U.S. 

McDonald’s is also using the promotion to roll out Krispy Kreme donut in New York City. Starting immediately, New York joins Chicago, Cleveland, Indianapolis, Pittsburgh and Louisville where restaurants serve the popular donuts.

According to McDonald’s, the Egg McMuffin was invented by Herb Peterson, a franchisee in Santa Barbara, who pitched the idea to CEO Ray Croc in 1971 as eggs Benedict you could hold in your hand.

Homebuyers have been putting a bit more down recently.

The typical U.S homebuyer put 16.3% down when buying a home in December, up from 15% at the end of 2023, according to a report on the 40 most-populous metropolitan areas from real-estate-website Redfin.

Still, the end-of-2024 levels are down from between nearly 18% and 20% from May through August of that year.

In dollar terms, Redfin said that equals $63,188, up 7.5% from a year earlier and the biggest increase in five months.

The increase in money put down is largely because home prices have increased, Redfin said: The median home price rose to around $428,000 in December, a spike of 6.3% from a year prior.

A bigger down payment can lower mortgage payments and help in a bidding war, but "bigger isn't always better," said Sheharyar Bokhari, senior economist at Redfin, in the report.

“Housing markets in much of the country have started tilting in buyers’ favor, allowing buyers to set the terms they want," Bokhair said. "That means house hunters don’t necessarily need to break the bank for a huge down payment if it makes more financial sense to save some money for things like future home renovations or other investments.”

Earlier in February, Redfin said the housing market has shifted to a buyer's market for the first time in six years.

What about all-cash home purchases?

The popularity of all-cash home purchases, which became more frequent when interest rates rose, has also fallen.

Nearly 31% of homes were bought entirely with cash at the end of 2024, up from September's low of nearly 29%, but down from nearly 34% in 2023, Redfin said.

More people were paying all cash for homes in 2023 because that is when mortgage rates peaked at a two-decade high of nearly 8%, Redfin said.

Since then, mortgage rates have come down to the 6% to 7% range.

How are down payments different in parts of the U.S.?

Wealthier, more desirable areas tend to see larger down payments.

Down-payment percentages were the highest in San Francisco (26.4%), followed by other California metros San Jose and Anaheim (both at 25%).

They were the lowest in Virginia Beach (3%), Detroit (6.5%) and Baltimore (8.5%).

The share going to down payments fell in eight of the 40 most-populous metropolitan areas, Redfin said, including the biggest declines in Portland, Oregon (-4.6 points to 15.4%), Orlando, Fl. (-3 points to 15%) and Jacksonville, Fl. (-2.1 points to 10%).

They rose the most in Charlotte, North Carolina (4.1 points to 14.1%), Minneapolis (1.4 points to 11.4%) and San Francisco (1.4 points to 26.4%).

Below is a table on down payment trends among 40 of the most-populous U.S. metropolitan areas in Dec. 2024.