A leading indicator of existing-home sales edged down 1.2% in March, signaling that home sales may slow in the months ahead, according to the National Association of Realtors."[T]he pending sales data is showing a dampening effect from rising mortgage rates that have been trending up since January," said NAR chief economist David Lereah. "This means a modest slowing can be expected in the sales pace in the months ahead, although the market will hold at historically strong levels." The NAR reported that its index of pending homes sales edged down from a seasonally adjusted annual rate of 117.6 in February to 116.2% in March. The NAR can be found online at http://www.realtor.org.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
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Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
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McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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