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The metric shows how drastically supply-chain disruptions have impacted prices for a key material used in single-family homebuilding.

Average prices were up 15% compared to the same month in 2020.

The coming change will further test the effectiveness of Biden administration policies aimed at putting more affordable properties in the hands of consumers or charitable organizations.

The Conference of State Bank Supervisors abandoned a lawsuit against the Office of the Comptroller of the Currency that had challenged the San Francisco fintech's effort to become a national bank without deposit insurance. The company recently amended its application to drop that controversial element.

President Biden’s aspirations for aggressive forgiveness haven’t been fulfilled to date, but steps taken so far have lowered a key hurdle to entry-level homeownership.

Michael Glotz is the CEO of Strategic Risk Associates.

The mortgage broker business was never a driving force for the Chicago-based firm's purchase of Stearns Lending, so dropping it wasn't totally unexpected.

Despite that year-over-year decline, the company beat analysts' expectations with fourth-quarter net income of $5.8 billion. Stronger commercial lending and lower expenses cushioned the blow in consumer credit.

The company's fourth-quarter trading revenue declined notably more than analysts had expected, while its business and consumer lending each dropped 1% year over year.

In a Senate confirmation hearing, the acting Federal Housing Finance Agency director echoed her predecessor’s view that restructuring of Fannie Mae and Freddie Mac should fall to Congress, and pointed to measures aimed at mitigating risk for the agencies.