Roundup: Producer prices / Mortgage demand / Air Products

Unchanged: U.S. producer prices remained unchanged in June, as an increase in the cost of goods due to tariffs on imports was offset by weakness in services. The unchanged reading in the producer price index for final demand last month followed an upwardly revised 0.3% rise in May, the Labor Department’s Bureau of Labor Statistics said Wednesday. In the 12 months through June, the PPI increased 2.3% after advancing 2.7% in May. Read the full story at Reuters.
Volume falls: Renewed concerns over tariffs and the broader economy drove treasury yields higher last week, sending mortgage rates up as well. As a result, total mortgage application volume fell 10% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $806,500 or less rose to 6.82% from 6.77%. CNBC has the full story.
Megaproject: Air Products’ proposed clean energy megaproject spanning five Louisiana parishes, including Ascension and Livingston, would excavate and move more than 2.2 million cubic yards of material—roughly equal to 370 Olympic-sized swimming pools, according to filings with the Louisiana Department of Energy and Natural Resources. The project could permanently impact more than 258 acres of wetlands, marshes, water bottoms and uplands, including 235 acres of swamp, according to Joseph Heintz with the Office of Coastal Management Read the full article at The Center Square.