News
How tariffs are driving up the cost of a 45-unit housing development in Maine
23+ hour, 30+ min ago (1001+ words) Housing This section of the BDN aims to help readers understand Maine's housing crisis, the volatile real estate market and the public policy behind them. Read more Housing coverage here. A new housing project coming to Freeport will likely cost…...
US consumer prices surge in March in line with expectations
4+ day, 13+ hour ago (495+ words) WASHINGTON " U. S. consumer prices increased by the most in nearly four years in March as the war with Iran boosted oil prices and the pass-through from tariffs persisted, further diminishing chances for an interest rate cut this year. The Consumer Price…...
US mortgage rates edge down to 6. 51%, MBA says
6+ day, 13+ hour ago (242+ words) The interest rate on the most popular U. S. home loan ticked down last week for the first time since the start of the Iran war, but not enough to rejuvenate a housing market that's pricing out many buyers with a combination…...
Mortgage rates are surging because of the Iran war. Here's what to do.
2+ week, 4+ day ago (801+ words) As the war in Iran rages on, mortgage rates are going up. The housing market got a bit of a boost earlier this year when the 30-year fixed-rate mortgage dipped below 6% for the first time in years. But barely a…...
US fixed 30-year mortgage rate jumps to 6-month high as Iran war drags on
2+ week, 4+ day ago (175+ words) WASHINGTON " The average rate on the popular U. S. 30-year fixed-rate mortgage has jumped to a six-month high as rising oil prices from the dragging Middle East war fanned inflation worries, which could weigh on home sales during the typically busy spring…...
US trade deficit narrows in January as exports jump to record high
1+ mon, 2+ day ago (525+ words) WASHINGTON " The U. S. trade deficit narrowed sharply in January as exports surged to a record high and imports fell, a trend that if sustained, could see trade contributing to economic growth in the first quarter. The trade gap contracted 25. 3% to $54. 5 billion,…...
Crazy" increase in beef prices squeezes Maine farmers
1+ mon, 1+ week ago (1016+ words) Steph Beem bought her best cow, Dolly, for $15 in 2018. Today, the Palmyra farmer said, "You couldn't even dream of doing that." Beem is taking over and diversifying her family's farm with her brother, Eli, and partner, Katie Trebilcock. Their long-term…...
US weekly jobless claims increase slightly as labor market steadies
1+ mon, 2+ week ago (655+ words) Reuters " The number of Americans filing new applications for jobless benefits increased slightly last week and the unemployment rate appeared to hold steady in February amid a stable labor market. The weekly jobless claims report from the Labor Department on…...
Opinion: The affordability "crisis" is about inequality and insecurity
2+ mon, 2+ week ago (583+ words) Garret Martin is the president and CEO at the Maine Center for Economic Policy. People are struggling to get by. Their ability to afford groceries, rent, and heating oil feels tenuous. Short-term economic data tells a confusing story. For many,…...
Trump pushes a 1-year, 10% cap on credit card interest rates and banks balk
3+ mon, 4+ day ago (547+ words) Trump was not clear in his social media post Friday night whether a cap might take effect through executive action or legislation, though one Republican senator said he had spoken with the president and would work on a bill with…...