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Mortgage rates dropped last week, though they've inched up a bit over the past couple of days. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-year Fixed Mortgage RatesThe current average 30-year fixed mortgage rate is 6.39%, according to Freddie Mac. 15-year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 5.76%, a slight increase from the prior week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022.

Mortgage rates have been somewhat volatile in recent weeks, but they've trended down a bit over the past few days. Mortgage Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control.

☆ Slower US job growth expected in April; unemployment rate seen rising to 3.6%
▼ + stars: | 2023-05-05 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The unemployment rate is forecast to have risen to a still historically low 3.6%. "The labor market is slowly bending, but not breaking," said Sam Bullard, a senior economist at Wells Fargo in Charlotte, North Carolina. "There is continued resilience in the labor market right now, but the trend is one that is continuing to see a decelerating pace of momentum." The service-providing sector likely accounted for most of the anticipated job gains in April. WAGE GAINS MODERATEAverage hourly earnings are expected to have risen by 0.3% in April, matching March's gain.

☆ Job growth totals 253,000 in April, beating expectations even as the U.S. economy slows
▼ + stars: | 2023-05-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Nonfarm payrolls increased 253,000 for the month, beating Wall Street estimates for growth of 180,000, according to the Bureau of Labor Statistics . Job growth fared better than expected in April despite bank turmoil and a decelerating economy, the Labor Department reported Friday. Despite serious banking industry troubles, jobs in finance increased by 23,000. "It is encouraging to see a strong jobs report amid recession concerns, instability in the banking sector and ongoing layoffs," said Steve Rick, chief economist at CUNA Mutual Group. "We are hopeful the continued strength of the jobs market and signs of slowing inflation will ease market volatility in the coming months."

Aftter dropping dramatically in March and early April, mortgage rates have been inching back up the last two weeks. Mortgage rates are rising in anticipation of this increase. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control.

The bad news: Average 30-year mortgage rates have been increasing over the last two weeks after falling dramatically throughout March and early April, according to Freddie Mac. Average 15-year mortgage rates dropped slightly, but remain elevated compared to where they were a month ago. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 30-Year Fixed Mortgage RatesThe current average 30-year fixed mortgage rate is 6.43%, according to Freddie Mac.

☆ Mortgage rates tick up for the second week in a row
▼ + stars: | 2023-04-27 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Mortgage rates inched up again this week. Even though rates ticked up for the second week in a row, with the rate of inflation decelerating, mortgage rates should gently decline over the course of the rest of this year, said Sam Khater, Freddie Mac’s chief economist. Still, despite slightly higher rates last week, purchase applications increased last week from the week before, according to the Mortgage Bankers Association. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. Buyers who need to buy this spring are going ahead with their mortgage applications, said Broeksmit.

☆ GDP report points to dreaded stagflation, but these stocks can still work in this environment
▼ + stars: | 2023-04-27 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

Investors may want to position themselves for a stagflationary environment after Thursday's gross domestic product reading for the first quarter showed lackluster economic growth and high inflation. First-quarter growth came in at a 1.1% annualized pace, much slower than the 2% growth expected by economists polled by Dow Jones. Stagflation is an economic condition the U.S. experienced in the 1970s, characterized by slow economic growth and elevated inflation, along with high unemployment. The one ingredient missing today is the high unemployment, but mounting layoffs are raising fears that will change soon too. But it's a reasonable bet that certain stocks with pricing power and resilient revenue sources could outperform in this kind of environment.

☆ The Fed is about to end rate hikes with inflation set to plunge as high-income earners file for unemployment benefits at a record pace
▼ + stars: | 2023-04-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The Federal Reserve is about to end its interest rate hikes as wage growth is set to weaken, according to Fundstrat. The research firm expects a 25-basis-point rate hike in May and then a pause with inflation set to plunge. Fundstrat observed that Americans making more than $200,000 have filed for unemployment benefits at a record pace. The surge in unemployment claims for high-income earners comes after a slew of layoffs at mega-cap tech companies in recent months, including Meta, Amazon, and Alphabet, among others. Also supporting the Fed's potential decision to pause interest rate hikes after the May FOMC meeting is the turmoil seen in regional banks, which has led to tightening lending standards across the banking industry.

Amazon is scheduled to report first-quarter earnings after market close Thursday. Last quarter, Amazon Web Services missed estimates, growing 20% in the period, down from 27.5% in the third quarter. They said AWS growth is likely to come in at 13% in the first quarter. Amazon is also contending with decelerating growth in its core retail segment. Even amid the cost cuts, Jassy said Amazon is investing in areas like grocery, health care, its Kuiper internet satellite service and generative artificial intelligence.

☆ Techs lift the S&P 500, dollar softens
▼ + stars: | 2023-04-26 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

SINGAPORE, April 26 (Reuters) - The S&P 500 inched higher on Wednesday and the dollar weakened as investors weighed solid company earnings against weaker-than-expected economic data and ongoing wrangling in Washington on raising the debt ceiling. "Megacaps are doing well based on strong earnings," said Bill Northey, senior investment director at U.S. Bancorp in Helena, Montana. The Dow Jones Industrial Average (.DJI) fell 42.01 points, or 0.13%, to 33,488.82, and the S&P 500 (.SPX) gained 8.73 points, or 0.21%, to 4,080.36. The U.S. dollar softened against a basket of major world currencies as the previous session's flight to safety faded and the euro gained strengthThe dollar index fell 0.46%, with the euro up 0.68% to $1.1047. Crude prices extended their losses as weak economic data further fueled fears of an economic downturn.

The Swedish crown weakened sharply after the country's central bank was less hawkish than expected, while the euro rebounded 0.65% from losses on Tuesday when jitters over U.S. regional banks buoyed the safe-haven dollar. But the market expects further rate hikes from the European Central Bank, a difference with the Fed that is driving currency moves. The euro rose 1.05% against the crown to a high of 11.426, set for its biggest one-day gain since early March. Sterling was last trading at $1.2462, up 0.44% on the day, while the yen strengthened 0.28% at 133.34 per dollar. Investor attention will firmly be on the slate of central bank meetings in the next few weeks with the Bank of Japan, under the new Governor Kazuo Ueda, holding its policy meeting later this week.

☆ UPS Issues Downbeat Outlook for Shipping Volumes
▼ + stars: | 2023-04-26 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

UPS is forecasting its first decline in annual revenue since 2009. Photo: Fred Prouser/REUTERSUnited Parcel Service Inc. shares tumbled on Tuesday after the global shipping giant said decelerating U.S. retail sales and shifting consumer trends would depress the company’s shipping volumes this year. The carrier is forecasting its first decline in annual revenue since 2009 after earnings and revenue both fell in the first quarter from a year ago, declines UPS said were driven by sagging consumer spending that pushed fewer packages through its U.S. and international networks.

☆ US home prices rose slightly in February, snapping seven months of declines
▼ + stars: | 2023-04-25 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —US home prices rose slightly in February, snapping a seven-month streak of month-over-month declines, according to the latest S&P CoreLogic Case-Shiller US National Home Price Index, released Tuesday. The national composite index now stands 4.9% below its June 2022 peak. Miami again had the biggest year-over-year price gain in February, followed by Tampa, Florida; and Atlanta. Miami had a year-over-year price increase of 10.8%, followed by Tampa with a 7.7% increase and Atlanta with an 6.6% increase. In January, four West Coast cities — San Francisco; Seattle; San Diego; and Portland, Oregon — saw year-over-year price declines.

REUTERS/Dado Ruvic/IllustrationApril 24 (Reuters) - A quarter into record layoffs, investors in U.S. tech giants will scrutinize if the cost cuts boosted profits to their satisfaction, while the companies emphasize how artificial intelligence will be their next growth driver. Microsoft Corp (MSFT.O), Google parent Alphabet Inc (GOOGL.O), Instagram owner Meta Platforms Inc (META.O) and Amazon.com Inc (AMZN.O) all report quarterly results this week. From a year earlier, profit is expected to slump nearly 16%, on average, with Microsoft expected to perform the least poorly with a 0.5% slip. These three companies, along with Amazon, said between November and March they would slash 70,000 jobs in a rapidly weakening economy, following a pandemic-led hiring boom. "There are expectations that companies could create or do even more with AI ... every tech investor is expecting those companies to be in the frontier."

BuzzFeed wasn't the only digital media company to announce layoffs Thursday. Miller added that going public is probably not the best strategy for digital media companies like Buzzfeed. The news comes during a tough period for digital media companies as publishers are cutting staff as advertisers reduce spending. BuzzFeed will lay off 15% of staff and shut down its news unit, BuzzFeed CEO Jonah Peretti wrote in an email to staff Thursday. The digital media company scaled back its news operation in an attempt to make BuzzFeed News profitable, resulting in the departure of several editors.

☆ Here are Wednesday's biggest analyst calls: Netflix, Apple, Tesla, Amazon, Bowlero, Exxon & more
▼ + stars: | 2023-04-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

UBS upgrades Exxon to buy from neutral UBS said in its upgrade of the oil and gas giant that it likes the company's balance sheet. Bank of America reiterates Meta as buy Bank of America says it likes "self-help stocks in an uncertain macro." Bank of America reiterates Nvidia as buy Bank of America raised its price target on the AI beneficiary to $340 per share from $310. Bank of America downgrades CDW to neutral from buy Bank of America downgraded the technology products company after its disappointing earnings report on Tuesday. Wolfe reiterates Amazon as outperform Wolfe says it's standing by its outperform rating on the stock heading into earnings next week. "

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Piper Sandler is optimistic again on Enphase Energy , saying that the company's U.S. business is "not as bad as feared." The firm's upgrade comes after it downgraded Enphase shares to neutral in January 2023. ENPH YTD mountain Enphase Energy stock Harrison believes Enphase's earnings margins could reach the 40% range as the company ramps up its production and harvests credits from the Inflation Reduction Act. To be sure, he noted that an unexpected declaration in the company's international expansion is a risk to his optimistic outlook on the stock. Enphase shares have dropped 21.1% in 2023, but have gained more than 9% over the past 12 months.

☆ Oil inches up on tightening supply, IEA demand outlook to come
▼ + stars: | 2023-04-14 | by ( Andrew Hayley | ) www.reuters.com time to read: +2 min

BEIJING, April 14 (Reuters) - Oil prices rose in early Asian trade on Friday, after falling 1% in the previous session, as the market weighed supportive supply conditions ahead of the International Energy Agency's monthly demand outlook. A tighter supply outlook due to lower expected production in Russia supported prices. On the demand side, investor attention is focused on the IEA's monthly oil market report to be released later in the day, with the possibility the agency might downgrade the global demand outlook over faltering macroeconomic growth. The weakening greenback makes dollar-denominated oil cheaper for investors holding other currencies, boosting demand. "It looks like the rally in crude prices has finally hit a wall," OANDA analyst Edward Moya said in a note.

☆ Oil climbs on tightening supply; IEA demand outlook awaited
▼ + stars: | 2023-04-14 | by ( ) www.cnbc.com time to read: +3 min

An oil pumpjack in the Inglewood Oil Field, seen from the Kenneth Hahn State Recreation Area, on July 13, 2022, in Los Angeles, California. Oil prices rose on Friday on signs of lower Russian output and tighter supplies, with the market looking ahead to the International Energy Agency's monthly report later in the day to clarify the global demand outlook. The possibility that the agency might downgrade the global demand outlook over faltering macroeconomic growth is helping to cap prices. "It looks like the rally in crude prices has finally hit a wall," OANDA analyst Edward Moya said in a note. Oil prices are expected to record an upward trend but the increments are expected to be capped at $90 a barrel, said CMC Markets analyst Leon Li.

☆ European markets open mixed as investors digest key U.S. inflation data
▼ + stars: | 2023-04-13 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

The pan-European Stoxx 600 index was tentatively higher with a 0.2% uptick, and sectors were mostly in positive territory. Household goods led gains with a 1.8% jump, while oil and gas stocks made the biggest drop with a 0.4% downturn. European stock markets opened mixed Thursday as investors digest key inflation data out of the U.S. released Wednesday. European stocks closed slightly higher Wednesday, with the pan-European Stoxx 600 closing up 0.1%. U.S. futures tied to the S&P 500 were little changed early Thursday morning, while Asia-Pacific markets were mostly lower on Thursday in response to data out of the U.S.

☆ Core inflation to start improving before summer break - ECB's Nagel
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, April 13 (Reuters) - Core inflation rates in the euro zone will begin improving in the coming months, but the European Central Bank still has a way to go with monetary policy, ECB policymaker Joachim Nagel said on Thursday. "We expect core inflation will show first movements in the right direction before the summer break," the head of Germany's central bank said on the sidelines of an International Monetary Fund meeting in Washington. He cited encouraging inflation data from the United States as showing that central banks' interest rate hikes are working. However, the United States began its rate hike cycle earlier, Nagel said, adding that he expected the ECB's tightening cycle to be continued. While inflation in the euro zone dropped by the most on record in March, a measure that excludes energy and food prices, known by economists as core inflation and seen as a better gauge of the underlying trend, accelerated.

☆ Slowing US inflation shifts investor focus to earnings season
▼ + stars: | 2023-04-12 | by ( David Randall | ) www.reuters.com time to read: +4 min

Wednesday’s data showed consumer prices growing at a slower pace than expected last month, bolstering the argument that inflation is decelerating. Yet some investors believe markets may have already accounted for a mild inflation slowdown and say further gains in stocks could depend on whether upcoming corporate earnings - especially results from banks - can beat forecasts. Earnings per share for the six largest U.S. banks are expected to fall 10% from the same quarter last year, according to Refinitv data. Overall, analysts expect S&P 500 earnings to fall 5.2% in the first quarter of 2023 from the year-ago period, I/B/E/S data from Refinitiv as of April 7 showed. That weakness would come on the heels of a 3.2% earnings fall in the fourth quarter of 2022, a back-to-back decline known as an earnings recession which has not occurred since COVID-19 blasted corporate results in 2020.

☆ Inflation rises just 0.1% in March and 5% from a year ago as Fed rate hikes take hold
▼ + stars: | 2023-04-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Inflation cooled in March as the Federal Reserve's interest rate increases showed more impact, the Labor Department reported Wednesday. The data showed that while inflation is still well above where the Fed feels comfortable, it is at least showing continuing signs of decelerating. Policymakers target inflation around 2% as a healthy and sustainable growth level. A 0.6% increase in shelter costs was the smallest gain since November, but still resulted in prices rising 8.2% on an annual basis. Excluding shelter, CPI rose 3.4% from a year ago, according to Jeffrey Roach, chief U.S. economist at LPL Financial.

☆ Tax refunds are getting smaller, and fit into the picture of a slowing economy
▼ + stars: | 2023-04-12 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +8 min

But as pandemic-related tailwinds run their course, another example becoming a thing of the recent past is bigger than typical tax refunds. "Earlier in the quarter, we were seeing taxes, your tax refunds higher year-over-year, during the last probably five or six weeks we've seen that decline. As pandemic-era benefits and tax credit wane, the tax refund data factors into the broader economic picture and the consumer as a source of strength. watch nowAll spending, not just retail spending, will be impacted by lower tax refunds, and that will continue into next quarter. The smaller tax refunds should not be a surprise to businesses — the data has been mounting over the past four to six weeks.

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