Economy Watch
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Page 19
Market Pulse
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Mortgage rates move with oil again as refinance rates stay near 6.4%
Freddie Mac’s weekly survey put the 30-year fixed at 6.3%, up from 6.23% a week earlier.
Gasoline Jump Pushes March PCE to 3.5% and Clouds Fed Rate Cuts
Gasoline prices jumped 24.1% in March, and Reuters said the Iran war, not broad inflation, drove much of the rise.
Brent Crude Hits $120 as Oil Shock Becomes the Growth Constraint
The U.S. economy grew at a 2% annual rate in the first quarter, with consumer spending, business investment and government outlays still firm.
Senate bans prediction market trading for members and staff
The Senate barred members and staff from trading prediction markets after scrutiny of possible insider bets around major announcements.
Brent Rises to $119.94 as Iran Port Blockade Keeps Oil Supply Stuck
Brent hit $119.94 a barrel and WTI reached $107.51 as traders priced in a longer Gulf supply outage.
Bank of Canada Holds 2.25% as Oil Complicates Rate Cut Outlook
The bank assumes crude falls to $75 by mid-2027 and warned that higher fuel costs are lifting inflation.
Powell Treats Oil Shock as an Inflation and Growth Hit
Powell said higher oil prices can cut disposable income, slowing GDP even as they lift near-term inflation.
Mortgage rates rise to 6.45% as Iran headlines push oil and yields higher
The average 30-year fixed mortgage rate rose to 6.45%, the highest since April 3, as Iran headlines pushed oil and bond yields higher.
Bank of Canada says housing will cut Canada GDP growth by 0.1 point
The Bank of Canada now expects housing to cut 0.1 percentage points from GDP growth this year, after projecting a 0.2-point boost in January.
Fed Holds Rates Steady as Powell’s Board Stay Complicates Trump’s Plan
Powell said he will stay on as a Fed governor after his chair term ends, blocking Trump from immediately filling his board seat.