Oil markets eye Strait of Hormuz after U.S.-Iran ceasefire
Markets swung after the truce, with oil logging its biggest one-day drop since April 2020 before recovering and equities extending gains on expectations inflation would hold steady.
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Oil markets price Strait of Hormuz closure at Brent above $99
Abu Dhabi’s oil chief said the Strait of Hormuz is still not open, and Brent crude climbed back above $99 a barrel as traders priced in shipping risk.
Mortgage rates ease to 6.37%, leaving housing market stuck
The 30-year mortgage rate slipped to 6.37%, but homebuyers still face high borrowing costs and a market stuck in a holding pattern.
Iran war lifts mortgage rates and borrowing costs
Reuters said Treasury yields jumped as investors weighed higher oil prices and inflation worries, raising borrowing costs across housing and credit.
Iran ceasefire jitters lift oil on Strait of Hormuz fears
President Donald Trump warned Tehran over any fees on vessels in the Strait of Hormuz as West Texas Intermediate climbed and traders questioned whether the ceasefire will hold.
China’s copper imports slump to weakest level since 2011
WTI rose 0.6% to $98.43 as traders watched the Strait of Hormuz and Iran war risks.
Freddie Mac mortgage rate falls to 6.37% after Iran ceasefire
Freddie Mac’s 30-year mortgage rate slipped to 6.37% after a five-week climb, but economists still see a fragile housing market.
Iran war: higher Treasury yields lift mortgage borrowing costs
Freddie Mac says the average 30-year mortgage rate dipped to 6.37%, but borrowing costs still pressure the spring housing market.
Adnoc chief casts doubt on Hormuz reopening
Sultan Al Jaber said passage through Hormuz depends on “permission, conditions and political leverage” from Iran as Brent climbed back above $99 a barrel.
Core PCE inflation stays at 3.0% ahead of March price jump
February’s PCE inflation rose 0.4% on the month and 2.8% year over year, keeping the Fed under pressure as rate cuts move farther away.
Mortgage rates ease to 6.37% after five-week climb
Freddie Mac said the average 30-year mortgage rate fell to 6.37%, ending a five-week climb after the U.S.-Iran ceasefire eased inflation worries.
Labor squeeze: participation rate hits 1977 low
U.S. labor-force participation fell to 61.9% in March, its lowest since 1977 outside the pandemic, even as payrolls beat forecasts.