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Money markets already betting on an almost half-point Federal Reserve rate hike next month received a wake-up call Monday from St. Louis Fed President James Bullard who said a three-quarter-point increase shouldn’t be ruled out.

The company is blaming anticipated declines in origination volume for its latest cuts.

Despite lean inventory, efforts by builders to boost production have been hindered by supply-chain challenges, soaring materials costs and difficult hiring conditions.

The Federal Reserve has hired five executives from the stablecoin issuer Circle and at least one employee of Ripple since 2019 as part of its technology-focused recruiting efforts. It plans to do more hiring in the years ahead to aid its work on faster payments and central bank digital currencies.

This move is in addition to the recent notice filed by the Department of Housing and Urban Development about its interest in creating a permanent 40-year option.

The business opportunity comes at a time when lenders are looking to save money because of tightening margins.

Researchers at the government-sponsored enterprise noted the role rising rates are playing in increasing housing costs in its report, now offered publicly for the first time.

U.S. consumers expect mortgage rates to increase substantially over the next several years, with households on average projecting rates of 6.7% a year from now and 8.2% in three years, according to a survey released by the New York Federal Reserve.

Different loan options to traditional mortgages can be costlier, lack consumer protections and leave debtors at risk of ownership disputes and loss of home equity.

The Office of the Comptroller of the Currency recently decided to put an official in charge of the rising number of small and midsize national banks that partner with fintechs or have nontraditional business plans. The agency’s goal is to establish a team that understands cutting-edge technologies and establishes consistent oversight policies in response.