Sign in to comment!

Menu
Home

Economy

Fed survey: US economy grew at moderate pace in spring, led by housing and autos

A strengthening housing recovery and robust auto sales contributed to moderate growth across the United States in late February and March, according to a Federal Reserve survey.

All of the Fed's 12 banking districts grew moderately and growth accelerated in two districts — New York and Dallas — from January and early February.

The survey suggests the economy performed better in March than recent government data on hiring and consumer spending indicated. That could mean the weakness may be temporary.

The Fed survey, which is based on anecdotal reports, found hiring was unchanged or improved slightly compared with the previous report. And it noted that consumer spending grew modestly. But the report also said higher taxes and a spike in gas prices slowed sales.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.96% up 3.94%  
15 Y Fixed Graph 3.08% up 3.03%  
30 Y Fixed Jumbo Graph 4.25% up 4.17%  
5/1 ARM Graph 3.33% -- 3.33%  
5/1 Jumbo ARM Graph 3.16% up 3.12%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.33% up 4.32%  
$50K HELOC Graph 4.06% -- 4.06%  
$30K Loan Graph 5.05% -- 5.05%  
$50K Loan Graph 4.48% -- 4.48%  
$75K Loan Graph 4.50% -- 4.50%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.95% up 2.93%  
36 M Used Graph 3.50% up 3.48%  
48 M New Graph 3.23% up 3.22%  
48 M Used Graph 3.03% dw 3.04%  
60 M New Graph 3.25% up 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% -- 0.39%  
1 yr Graph 0.72% -- 0.72%  
5 yr Graph 1.51% up 1.50%