Weekly mortgage demand from homebuyers tumbles 12%, as higher interest rates take their toll
Higher mortgage interest rates are hitting homebuyer affordability hard, and that is showing up in a sharp drop in mortgage applications.
Households are now spending an estimated $5,000 a year on gasoline
U.S. households are now spending the equivalent of $5,000 a year on gasoline, up from $2,800 a year ago, according to Yardeni Research.
CEO outlook dims sharply, with more than half expecting a recession ahead, survey shows
The Conference Board measure of CEO sentiment showed that 57% expect the economy to sustain a "very short, mild recession."
California’s gas average tops $6 per gallon as prices surge across the U.S.
California's state average for a gallon of gas hit a record above $6.
Retail spending increased 0.9% in April, boosted by demand and inflation
Retail sales were expected to rise 1% in April, according to Dow Jones estimates.
Homebuilder sentiment falls to 2-year low on declining demand and rising costs
"Housing leads the business cycle, and housing is slowing," said NAHB Chairman Jerry Konter, a builder and developer.
Powell says the Fed will not hesitate to keep raising rates until inflation comes down
Fed Chair Jerome Powell said he will back interest rate increases until prices start falling back toward a healthy level.
April’s consumer price index report expected to show inflation has already peaked
April's consumer price index may show inflation has reached its height.