Roundup: DEI spending / Global oil demand / Mortgage rates
Jan 15, 2025
Little effort: Last year, Louisiana lawmakers asked every Louisiana public college and university to submit a report on its spending related to diversity, equity and inclusion. Based on a Louisiana Illuminator review of their submissions, there has been minimal spending on these programs. Read more from Louisiana Illuminator.
Growing: The International Energy Agency anticipates an acceleration in global oil demand growth this year, but still expects the market to be in surplus. The Paris-based organization forecasts global demand to grow by 1.05 million barrels a day in 2025, reaching an average of 104 million barrels a day on lower prices and an improving economic outlook in developed countries. Read more from The Wall Street Journal.
Still rising: The interest rate for the most popular U.S. home loan rose last week to an eight-month high of 7.09%, extending an upward trend that’s squeezing would-be homebuyers already facing rising house prices and limited supply. The average contract rate on a 30-year fixed-rate mortgage rose 10 basis points in the week ended Jan. 10, the Mortgage Bankers Association said on Wednesday. Read more from Reuters.