Organization Root Tag

Bostic said he expects the US central bank will cut rates twice in 2024 — in the second half of the year — as inflation continues to slowly decline.

The outstanding amount that people ages 62 and up hold represented a nearly $15.4 billion gain in property value offset by a record $2.32 billion in borrowing.

The Federal Open Market Committee meets Dec. 12 and 13 and in addition to their statement, they will issue a Summary of Economic Projections.

Across the industry, the pace of branch shutdowns slowed this year. Still, large financial institutions continued to trim their physical footprints, with two super-regional banks taking the most aggressive actions.

The American Land Title Association pushed back against the move to allow attorney opinion letters in the financing of condo units and certain other properties.

Short-term rates may fall but the Fed's quantitative tightening, which tends to pressure financing costs for most mortgages, persists. Here the net impact.

Sen. Jack Reed, D-R.I., also brought up concerns with synthetic risk transfers and so-called shadow banks, which he said are shifting risk from outside the banking system into private credit markets.

The Federal Reserve held interest rates steady for a third meeting and gave its clearest signal yet that its aggressive hiking campaign is finished by forecasting a series of cuts next year.

The Federal Reserve has allowed more than $1 trillion of assets to roll off its balance sheet. Chair Jerome Powell says he doesn't believe reserves in the banking system are nearing a level that would cause the Fed to slow down or stop.

The Department of Housing and Urban Development proposal, which would modernize client meetings necessary for some mortgages, is similar to an FHA move.