BUSINESSAP NEWS
America In Focus: US economy expands at sluggish pace, mortgage rate hit the highest level in a year
The US economy grew at a sluggish 1.5% annual rate in Q2 2026, driven by consumer spending and AI-related business investment but weighed by rising imports. Mortgage rates hit a one-year high, with the 30-year fixed rate reaching 6.66%, while consumer confidence fell to 90.8 in July amid rising gas prices and geopolitical tensions.
Mentioned
Related Signal
Adjacent reporting
- America In Focus: US economy expands at sluggish pace, mortgage rate hit the highest level in a year
- America In Focus: key inflation gauge surges to 3-year high, mortgage rate climbs
- America In Focus: US inflation cooled in June, but AI build-out poses latest threat
- America In Focus: Fed officials divided on US inflation views; US home prices hit all-time high
- America In Focus: Fed officials divided on US inflation views; US home prices hit all-time high