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U.S. pending home sales fell in July for the sixth time this year to the lowest level since the start of the pandemic, extending the housing market's sharp downturn as high borrowing costs sideline prospective buyers.

Sales of new US homes fell in July for the sixth time this year to the slowest pace since early 2016, extending a months-long deterioration in the housing market fueled by high borrowing costs and a pullback in demand.

Government-backed applications picked up despite rising rates last week, but a decline in conventional loans drove overall volumes down.

Bank lending activity grew at a strong clip in the second quarter and continues to expand. Yet rising interest rates and recession concerns could hamper future growth.

A data breach in 2022 costs companies $4.35 million on average, an all-time high according to IBM research.

A contested home valuation was based on the professional's "racist beliefs" and eschewed industry standards with comparisons of properties away from the majority-white neighborhood, according to the lawsuit.

The announcement comes as interest in Federal Home Loan bank funding has experienced a resurgence, with advances up 48% in the first six months this year.

Some housing numbers have been weaker than expected because affordability remains relatively low, outweighing slightly higher refinancing that has an upside for lenders but a potential downside for servicers.

Activity is coming in at or below 2020 levels according to reports from the Mortgage Bankers Association and Redfin.