MILAN (AP) — The Italian soccer federation (FIGC) has talked to former Manchester City coach Pep Guardiola and Brazil boss Carlo Ancelotti about taking over the crisis-hit national team.
It hopes to announce the new Italy coach within the week, with the Azzurri still reeling after failing for a third straight time to qualify for the World Cup.
Former Italy and AC Milan defender Paolo Maldini was named as the federation’s new technical director at the start of the month and was present at a meeting with the Serie A clubs on Thursday, along with new FIGC president Giovanni Malagò and special advisor Leonardo.
“Honestly, today we can’t give news about what’s happening. You’ve identified one of our targets,” Maldini said when asked about Guardiola in a news conference after the meeting.
“We can’t hide that we also talked with Carlo Ancelotti before talking with Pep. Honestly, it seemed right to start with the best in the world, to see their general availability.”
Guardiola left Man City at the end of last season, bringing to a close a trophy-laden, 10-year spell in which he established City as a force in Europe and changed the face of English soccer.
The 55-year-old Guardiola has won 35 major titles across his coaching career including at Barcelona and Bayern Munich.
Maldini and Leonardo spent three days in Barcelona recently to speak with Guardiola about taking the Italy job.
“The best thing would be to announce the new coach this week, but even more to wait for the person we really want,” Maldini said. “So there’s urgency, but not so much inside us.”
Ancelotti signed a contract extension with Brazil in May through to the 2030 World Cup. But the five-time world champion just had one of its worst ever performances on soccer’s biggest stage as it was eliminated in the round of 16 after a 2-1 loss to Norway.
The 67-year-old Ancelotti has won league titles in Italy, England, France, Spain and Germany. He is also the only coach to have won the Champions League five times.
Four-time champion Italy missed out on a third straight World Cup after a playoff loss to Bosnia and Herzegovina in March, prompting the resignations of FIGC president Gabriele Gravina and coach Gennaro Gattuso.
Gattuso had taken over from the fired Luciano Spalletti only the previous June with the squad already flailing following a defeat at Norway in its opening qualifier.
Former Italy coaches Roberto Mancini — who led the Azzurri to the European Championship in 2021 — and Antonio Conte are also among the favorites to take charge of the national team. Andrea Pirlo, who helped Italy to the World Cup in 2006 as a player, is also reportedly in contention.
AP soccer: https://apnews.com/hub/soccer
FILE - Paolo Maldini arrives with his wife, Adriana Fossa, at the Armani/Teatro in Milan, northern Italy, to pay his respects to designer Giorgio Armani, Sept. 7, 2025. (AP Photo/Nicola Marfisi, File)
FILE - Manchester City's head coach Pep Guardiola applauds the fans after his last game with the club after a Premier League soccer match between Manchester City and Aston Villa in Manchester, England, May 24, 2026. (AP Photo/Alastair Grant, File)
The average long-term U.S. mortgage rate climbed this week to its highest level in nearly 12 months, pushing up borrowing costs for prospective homebuyers at a time when rising oil prices are already squeezing household budgets.
The benchmark 30-year fixed rate mortgage rate rose to 6.58% from 6.55% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.74%.
The rate has ticked higher three weeks in a row. Higher mortgage rates can add hundreds of dollars a month in costs for borrowers, limiting homebuyers’ purchasing power. As rates rise, that can lead prospective home shoppers to delay buying a home, one reason U.S. home sales have been sluggish this year.
Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers refinancing a home loan, also rose this week. That average rate increased to 5.96% from 5.93% last week. A year ago, it was at 5.87%, Freddie Mac said.
Mortgage rates are influenced by several factors, from the Federal Reserve’s interest rate policy decisions to bond market investors’ expectations for the economy and inflation. They generally follow the trajectory of the 10-year Treasury yield, which lenders use as a guide to pricing home loans.
Rates have been mostly rising this year as the conflict in Iran has driven crude oil prices sharply higher, stoking expectations of hotter inflation. That’s pushed up long-term bond yields relative to where they were before the conflict began in late February, causing mortgage rates to trend higher.
The 10-year Treasury yield was 4.7% at midday Thursday on the bond market, up from 4.57% a week ago. It was just 3.97% in late February, before the war broke out.
Rising oil prices as violence escalates in Iran are threatening to worsen inflation, just as it had begun to decelerate by more than economists expected. That in turn could push the Federal Reserve to raise interest rates.
The central bank doesn’t set mortgage rates, but its decisions to raise or lower its short-term rate are watched closely by bond investors and can ultimately affect the yield on 10-year Treasurys.
The average rate on a 30-year mortgage is now the highest it’s been since Aug. 21, when it was at 6.58%. As recently as late February, the average rate dropped slightly below 6% for the first time since late 2022.
While average long-term mortgage rates remain lower than they were at this time last year, their upward trajectory has weighed on home sales this year. While seasonally adjusted sales of previously occupied U.S. homes were up 0.7% from January to June compared to the same period last year, they're still hovering close to a 4-million annual pace far short of the historic norm that is closer to 5.2-million.
The trend has extended the national housing market slump that began in 2022, when mortgage rates began to climb from pandemic-era lows. Sales of previously occupied U.S. homes were essentially flat last year, stuck at a 30-year low.
As mortgage rates remain elevated, that will mean a slower summer housing market, said Lisa Sturtevant, chief economist at Bright MLS.
“It’s not just about rates for homebuyers, but rather the full financial picture of buying,” she said. “Home prices hit record highs this summer in many markets across the U.S. while higher gas prices and concerns about overall inflation rising have created more financial strain for would-be buyers.”
FILE - A sign is posted for a new home for sale in Ambler, Pa., Oct. 16, 2025. (AP Photo/Matt Rourke, File)
