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Rates for home loans fell in line with Treasury yields, nudging mortgage rates to the lowest level of the year. The 10-year Treasury yield fell five basis points during the week as investors continue to re-assess the expectations for fiscal stimulus and economic growth that followed the November election even as fresh geopolitical worries flared.
READ MOREThe cost of goods and services for American consumers fell in March for the first time in more than a year, reflecting a decline in gasoline prices that’s put a halt for now to rising inflation. The consumer price index, or cost of living, fell by a seasonally adjusted 0.3% last month. Economists had forecast
READ MORESales at U.S. retailers fell in March for the second month in a row, marking the worst two-month stretch in two years. Sales at retailers nationwide declined 0.2% last month, a touch less than the 0.3% drop forecast.
READ MOREDisappointments on both inflation and retail sales for March might give reason for Federal Reserve officials to think twice about their plan to ratchet up rates as many as three more times this year. The next policy move from the Fed will likely come in June and will likely be followed by another rate hike
READ MORE“My tentative conclusion from market responses to the limited amount of discussion of the process of reducing the size of our balance sheet that has taken place so far is that we appear less likely to face major market disturbances now than we did in the case of the taper tantrum,” Fischer said. “But, of
READ MOREBritish Prime Minister Theresa May says she is seeking an early election on June 8 to seek a strong mandate as she negotiates the country’s exit from the European Union.
READ MOREOverall U.S. industrial production rose 0.5 percent in March because of an 8.6 percent weather-driven surge in utilities generation, the Federal Reserve said on Tuesday. That was the largest increase in utilities output on record, which resulted from heating demand returning to so-called seasonal norms after being suppressed by unusually warm weather in February, the
READ MOREBuilders broke ground on fewer homes in March, but ramped up applications for permits, as the housing recovery continued to grind forward in fits and starts. Housing starts fell 6.8% to a seasonally adjusted annual rate of 1.22 million, the Commerce Department said Tuesday. That was 9.2% higher than during the same period a year
READ MOREKansas City Fed President Esther George on Tuesday said she supports the continuation of the normalization of interest rates, even as she acknowledges it’s unclear how markets will react to the Fed beginning to reduce its $4.5 trillion balance sheet. “It is difficult to know with a high degree of confidence just how the economy
READ MORETreasury prices rallied on Tuesday, pushing yields lower, as geopolitical concerns draw money flows into U.S. government bonds. Yields for 10-year Treasury notes slipped 3.8 basis points to 2.210% in early Tuesday trading, heading back toward the November lows reached on Monday.
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