The University of Michigan Index of Consumer Sentiment slipped to 50.8 in May, its second lowest reading ever, as Americans fretted about tariffs, inflation and the job market. Continue reading
With more homes to choose from, purchase loan applications were up 18 percent from a year ago last week as buyers forged ahead despite economic uncertainty. Continue reading
Central bank policymakers need time to assess Trump administration’s “substantial policy changes” in areas including tariffs, immigration, taxation and regulations Continue reading
Advance GDP reading suggests the economy shrank by 0.3 percent during Q1, as a rush by businesses to import goods before tariffs took hold and government spending cuts dented growth. Continue reading
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