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Flying high: Several top airlines have adjusted their forecasts over fears that an incoming recession could weaken travel demand after a sluggish start to the year. Executives from Delta Air Lines, American Airlines and other major carriers warned that demand from consumers, businesses and government customers has come under pressure in the first quarter. The most common factor, they say: mounting economic uncertainty. Read more from The Wall Street Journal.
Going up: Mortgage rates in the U.S. rose for the first time in three months, keeping borrowing costs high for buyers trying to break into the market. The average for 30-year loans was 6.65%, up from 6.63% last week, Freddie Mac said in a statement Thursday. Read more from Bloomberg. A subscription may be required.
Homebuilding increases: President Donald Trump’s tariffs could increase material costs for the average new home by as much as $10,000, according to the National Association of Home Builders. The trade group said on Thursday it has received anecdotal reports from members that Trump’s plan for levies would raise material prices by between $7,500 and $10,000 for the average new single-family home. Read more from CNBC.
