This Economy! Sheesh!

It was another up-and-down week for mortgage markets, with tariffs still being the big topic on everyone’s mind (boooooo). People started spending more, likely trying to get ahead of price hikes, and after a jump the week before, mortgage rates actually dropped a bit.

Retail sales in March jumped 1.4% from February, which was pretty much expected and the biggest increase since early 2023. Car sales were especially strong—up over 5%—and other areas like sporting goods and home improvement stuff saw big gains too.

Import prices didn’t really move much in March, which matters now because of all the new tariff talk. Since these prices are recorded before tariffs hit, investors are watching closely to see if foreign companies will lower their prices to keep things competitive, or if U.S. consumers will end up paying more and taking the brunt of the tariffs.

Fed Chair Powell gave a speech on Wednesday and said the new tariffs could make things tricky (duh)—pushing inflation up while slowing down growth. That puts the Fed in a bit of a bind. For now, they’re taking a wait-and-see approach, but investors are betting on a rate cut in June.

Looking ahead, everyone’s still keeping an eye on tariff news. I mean, are these tariffs real?  A negotiating tactic? Lots of unknowns out there right now, really only time will tell here.  

Happy Easter! Have a great week!  Appreciate the good things in your life and have some laughs today!