Major ports along the U.S. West Coast are preparing for the impact of the Trump administration’s tariffs, expecting a dramatic decline in shipments from China. Mario Cordero, CEO of the Port of Long Beach, said the first noticeable drop occurred in May, with projections indicating a 20% reduction in volume for the second half of 2025. The Port of Long Beach is one of the busiest in the U.S. Cordero said the port is starting to see fewer vessels arrivals, which means fewer cargo. potentially affect jobs and consumers. This decline stems from fewer bookings out of Asia, as uncertainty…
Author: Lutfi Hanon
Mortgage demand has experienced a sharp decline due to higher interest rates and economic uncertainty. According to the Mortgage Bankers Association’s seasonally adjusted index, total mortgage application volume fell by 12.7% last week compared to the previous week. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $806,500 or less increased to 6.90%, up from 6.81%. This marks the highest rate in two months but remains 34 basis points lower than the same week last year. Rates have risen nearly 30 basis points in just two weeks. Refinancing applications dropped by 20% for the week…
