Tension grows in the housing market

Bad news first: Mortgage rates are topping 7% and, fittingly, mortgage applications are down. On the bright side, home prices aren’t completely frozen and listings are actually up. Question is, in this stuck housing market, when will things budge? Also in this episode: A running resurgence parallels popularity peaks in the aughts and ‘80s, Nashville-style hot chicken sees international success, and writer Robin Wigglesworth argues the bond market built the modern world in his new book, “A Fabulous Debt.”Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Read the stories in today’s episode:U.S. mortgage rates climb above 7% in another blow to housing marketBonds are like the “hidden wiring connecting the global economy”Why everyone is running all of a suddenLike weddings, concerts are now destination affairsThe global appeal of Nashville hot chicken

Diesel costs have nearly doubled over the last year, breaking record highs. In fact, some lawmakers are calling on the Trump administration to halt all diesel exports until they cool off. But experts say it's a recipe for price chaos that will leave us right back where we started. Also in this episode: A wide crude oil spread persists, butter and cheese become a bright spot on grocery receipts, and local bank consolidations leave customers frustrated.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Read the stories in today’s episode:The difference between the "paper" price of Brent crude and what refiners pay for itTrump and Xi meet this week. What can we expect?As grocery prices rise, cheese and butter get cheaper"Not such a good idea": How banning diesel exports to lower prices could backfireAs banks consolidate, some customers aren’t so sure they’re happy

President Trump will meet with Chinese President Xi Jinping this week, and AI safety is likely to define the agenda. But what about those pesky tariffs? In this episode, we lay out the fraught trade relationship between the U.S. and China. Plus: Airlines trim their flight schedules to combat high fuel prices, the price of copper may tell us less about global economic growth than it used to, and Ohio cities court recent grads looking for job opportunities and affordability.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Read the stories in today’s episode:Trade tensions between U.S. and China simmer ahead of Trump-Xi summitIs "Dr. Copper" becoming less reliable?Starting a new career? Start in Ohio, report saysAirlines are trimming routes as fuel prices soarSorry brunch, but you're old news

The Trump administration has doubled down on its trade war with our neighbors to the North — the U.S. is set to ban the import of several Canadian products, including beer and whey protein, in a few weeks. Small businesses on both sides of the border are caught in the middle. In this episode, we visit a few of them to understand how they’re coping. Plus: Banks stand to lose money as Treasury bond yields keep rising, Linkedin has changed the job hunt in this tight labor market, and we break down the week’s economic headlines.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Read the stories in today’s episode:The Fed makes a moveRising rates mean Treasurys are worth less. That's putting pressure on banksAs the U.S.-Canada trade war heats up, businesses find themselves caught in the crossfireDo you need to be a "LinkedIn lunatic" for your career?She sold her home, just to keep living in it

Retail sales jumped 1.2% in August after falling in July. But building materials stores — think Home Depot or Lowe’s — still saw a dip. That’s because stretched consumers are putting off “nice-to-haves,” like home renovations. Also in this episode: The future of global energy demand will be driven by a mix of renewables and fossil fuels, high school students take a new AP class melding business and personal finance, and neighbors organize to cooperatively buy their mobile home park.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Read the stories in today’s episode:The countries driving energy demand growth can't wait for renewables to get cheaperKevin Warsh isn't a "data point-dependent guy"Home improvement stores take a housing market hitHigh schoolers take new AP business with personal finance classResidents of a mobile home park try to buy their community before someone else doesTurning a childhood home into a place to share with strangers

The yield on 10-year T-notes climbed to its highest point since 2007 on Wednesday, as the Fed raised its key rate for the first time since July 2023. Swirling inflation and uncertainty have put all eyes on the bond market. So what’s it like to be a bond trader, suddenly at the center of attention? In this episode, we check in with a few of them. Plus: Higher borrowing costs will likely further stall the housing market, we explain “fiscal dominance,” and young people navigate “repayment avoidance.”Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Read the stories in today’s episode:What it's like to work in the bond market these daysA Fed rate hike will make buying a home even more expensiveSurviving a stroke meant leaving her career behindWhat “fiscal dominance” would mean for the U.S. economyVenmo ghosting, just in time for spooky season

August marked the third-highest level of container imports to the U.S. on record. Sure, it’s usually a busy month for holiday shopping inventory, but there’s also that pesky looming inflation and ongoing tariff uncertainty. In this episode, why U.S. retailers are stocking way up. Plus: The stock market braces for a likely Fed rate hike, wildlife highway crossings save money and lives, and Carter’s undergoes a rebrand aimed at a new generation of parents.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Read the stories in today’s episode:If the Fed hikes rates, here's how the stock market might respondFor those without a degree, the job market looks pretty goodImports boomed this summer in anticipation of higher costsWildlife use bridges and tunnels too, but it’s spendyCarter's big rebrand amid challenging children's clothing marketThe complicated history of New York's iconic Charging Bull statue

At this week’s FOMC meeting, it’s likely Fed governors will hike interest rates. They won’t be alone. The EU raised rates last week and Japan is expected to do the same at its upcoming meeting. These central bankers are all dealing with similar inflationary pressures, and hawkish rate-setters stick together. Also in this episode: The U.S. dollar rises in anticipation of a rate hike, diesel prices break records, the subscription-BNPL-rental economy reduces how much we really own. Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Read the stories in today’s episode:Central bankers around the world are looking more hawkishThe U.S. dollar rises as investors anticipate an interest rate hikeWe don't own anything anymoreDiesel fuel hit a record high. Unlike gas, using less of it is not an optionShe built a tiny home in her aging mother's backyard

The latest BLS data put real hourly wage gains at -0.3% last month, compared to last year. That’s thanks to inflation running hotter than pay raises. To make up for it, some workers are putting in extra hours or dipping into their savings. In this episode, how much longer can Americans cope with what are effectively inflation-driven pay cuts? Plus: The gender wage gap slows economic productivity, housing starts grow in the Northeast as they fall elsewhere, and we weigh the possible outcomes of next week’s FOMC meeting.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Read the stories in today’s episode:Last call for Fed rate predictionsInflation has devoured pay gains over the past yearWhy the gender pay gap holds back productivityRetiring at age 37 to give back to the communityHousing starts are down in most of the country. Here's why the Northeast is the exception

Oil industry analysts were hopeful earlier this year that Trump’s war in the Middle East would be short-lived. But it’s become clear that an open flow of oil through the Strait of Hormuz will require sustained cooperation between the U.S. and Iran. S&P Global now expects dampered production and choppy prices to continue into 2027. Also in this episode: Trucking costs are pushed up by record-breaking diesel prices and a shortage of English-speaking drivers. And, is it a good idea to use AI to develop pharmaceutical drugs?Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Read the stories in today’s episode:The oil roller coaster reaches new heights — and it's a bumpy ride aheadTrucking costs are rising fast. That could mean even more inflation for consumersThis audio affects business is still waiting on tariff refundsHow this Georgia factory is surviving America's solar policy whiplashIf AI helps speed up drug development, can the FDA keep up?The construction manager who quit his 9-to-5 to build something for himself