Mortgage rates fall after Fed signals pause in interest-rate hikes. Realtors hope for busy spring housing season.
The 30-year mortgage rate is averaging at 6.39% Freddie Mac said in its latest weekly survey on Thursday.
Economic Report
U.S. bank deposits edge down in latest week while lending rises
Deposits at commercial U.S. banks fell in the week ending April 26, according to a report from the Federal Reserve on Friday.
U.S. consumer credit growth accelerates in March
Consumer credit rose $26.5 billion in March, up from a revised $15 billion gain in the prior month, the Federal Reserve said Friday.
Higher worker pay may foil Fed pause in inflation fight
The fight against high U.S. inflation is far from over if a resilient labor market and rapid increase in worker pay is any indication.
Jobs report shows strong 253,000 increase in April. U.S. labor market not cooling much
The U.S. created 253,000 new jobs in April and wages rose sharply, indicating there's still lot of demand for labor even as the economy slows.
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Bank borrowing from the Fed falls sharply after First Republic sale
The amount of money U.S. banks borrowed from the Federal Reserve fell by almost half last week, mostly because of the distressed sale of First Republic.
Jobs report may show U.S. created fewest jobs in April in more than two years
The U.S. probably created fewer than 200,000 new jobs in April for the first time in more than two years, economists say.
Jobless claims climb 13,000 to 242,000 and show hints of U.S. labor-market softening
The number of Americans who applied for unemployment benefits last week rose by 13,000 to 242,000 and hinted at some softening in a muscular U.S. labor market.
U.S. trade deficit falls 9% to 4-month low due to shrinking imports
The trade deficit narrowed 9% in March to a four-month low, but shrinking imports point to weaker consumer spending and more stress on the U.S. economy.
U.S. productivity fell sharply in the first quarter as economy slows
The productivity of American workers fell at a 2.7% annual pace in the first quarter, the Labor Department said Thursday.
ADP says U.S. added 296,000 private-sector jobs in April, a nine-month high
Private-sector employment jumped in April by a nine-month high of 296,000, payroll processor ADP said, in a sign the U.S. labor market is still going strong.
Businesses grow a bit faster, ISM finds. Economy still in OK shape.
Most U.S. businesses grew at a slightly faster pace in April, reflected by a closely followed ISM index that increased to 51.9% last month.
U.S. Treasury to auction $96 billion next week in refunding
The U.S. Treasury announced Wednesday it would sell $96 billion in notes and bonds next week as part of its regular quarterly refunding.
Mortgage rates fall, but buyers pull back in latest week
Mortgage applications fell 1.2% in the latest week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 6.5%.
U.S. job openings fall to nearly 2-year low of 9.6 million. Fewer people are quitting, too.
Job openings in the U.S. fell to a nearly two-year low of 9.6 million in March in a sign that a still-strong labor market is gradually cooling off.
U.S. factory orders jump in March on strong airline orders
Orders for U.S. manufactured goods rose 0.9% in March, the Commerce Department said Tuesday.
U.S. Treasury increases borrowing estimate for second quarter
The Treasury Department said Monday it expects to borrow $726 billion in the second quarter, which is $449 billion higher than previously reported
U.S. manufacturers stuck in negative territory for 6th month in a row, ISM finds
A key barometer of U.S. factories hung in negative territory for the sixth month in a row, signaling ongoing malaise in a key part of the economy
Construction spending up 0.3% in March
Outlays for construction projects rose 0.3% in March, the Commerce Department reported Monday
Bank lending rises for the third straight week
Total bank lending rose to $12.1 trillion in the seven days ended April 19 from $12.09 trillion in the prior week, the Federal Reserve said Friday.
Inflation barely rises, PCE shows, but core rate is still ‘sticky’
The cost of goods and services rose a scant 0.1% in March and the yearly inflation rate slowed again in response to higher interest rates and a cooler economy.
Consumer sentiment is still down in the dumps — and Americans are unlikely to feel better anytime soon
The final reading of a consumer-sentiment survey in April was unchanged at 63.5, a historically low number that reflects broad pessimism about the U.S. economy.
U.S. employment costs remain sticky, boosting expectations of Fed hike
The U.S. employment cost index rose 1.2% in the first quarter after gaining 1.1% in the last three months of 2022, the Labor Department said Friday.
Chicago business activity index less negative in April
The Chicago Business Barometer, also known as the Chicago PMI, improved to 48.6 April from 43.8 in the prior month.
Consumer spending flattens out in March as the economy softens
Consumer spending was flat in March in a sign of a softening U.S. economy, but part of the weakness stemmed from households paying less for gas.
