Slowing economy could also help bring mortgage rates down to Earth more rapidly, with the latest forecast predicting rates will drop to 6.2 percent by the end of this year and to 6 percent next year. Continue reading
Consumer confidence sank to a five-year low in April over concerns about tariffs, while trade deficit surged to an all-time high in March, and job postings shrank more than expected Continue reading
Rapid fluctuations in tariff policies by the Trump administration have the economy and the stock market in a volatile state, which is weighing heavily on consumers, findings from the latest Inman-Dig Insights consumer survey, conducted in April, show. Continue reading
Rising construction costs and shifts in foreign investments will result in falling sales as the weight of the tariffs are felt across U.S. housing markets, economists and real estate leaders told Inman. Continue reading
Mortgage rates are climbing back toward 7 percent on fears that tariffs could reignite inflation, but Federal Reserve Chairman Jerome Powell warns policymakers would be challenged if unemployment also rises. Continue reading
The University of Michigan Index of Consumer Sentiment fell 11 percent from March to April and is now lower than it was during the Great Recesssion. Continue reading
Inflation as measured by the Consumer Price Index dropped to an annual rate of 2.4 percent last month, but the impact of tariffs is unlikely to show up in data until May. Continue reading
Stocks rebounded and pressure on interest rates eased after Trump announces 90-day pause on country-specific “reciprocal tariffs” with the exception of 125 percent duties on Chinese goods. Continue reading
Heightened fears of a trade war and recession have investors convinced that the Fed will start cutting rates again in June — a sentiment that gives mortgage rates more room to come down. Continue reading
Sweeping plan imposes higher duties on “worst offenders” and is in addition to 25 percent tariff on foreign automobiles slated to take effect April 3. Continue reading