Economy

The U.S. economy added 162,000 jobs in August, bouncing back from a surprise decline in July. The Fed's next interest rate decision will still hinge on next week's inflation reading.

The 30-year FRM, as tracked by Freddie Mac, rose to a level last reached in July 2025, helped by the 10-year Treasury briefly topping the 4.8% ceiling.

Fed Chair Kevin Warsh's much anticipated speech at the Jackson Hole meeting reinforced past comments about reducing communications around forward guidance.

Lower median loan amounts and earnings growth which outpaces mortgage expenditures helps to improve affordability even as rates continue to rise, the MBA said.

Valley National Bank, which spent two years reducing its large concentration in commercial real estate loans, announced plans Tuesday to buy a bank in the competitive Chicago market.

A group of community development financial institutions are asking a federal court in California to compel Treasury to disburse funds from the CDFI Fund before they expire in September.

Despite Treasury intervention to calm bond yields, persistent deficit pressure continues to trap mortgage rates, keeping application volume flat and squeezing origination revenue.

Retail sales fell 0.6% in July despite a World Cup bump and the University of Michigan's consumer sentiment index declined to cap off a pivotal week of economic indicators.

The rollout of New York's pied-à-terre tax can proceed for now after an appeals court temporarily put a hold on a Staten Island judge's order blocking the plan.

For the first time in six weeks, the 30-year fixed rate mortgage dropped, with observers expecting a steady but challenging housing market for the rest of 2026.

US wholesale inflation decelerated in July by more than estimated, likely giving the Federal Reserve more time to assess price pressures going forward.

Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.

Trump in a social media post argued that the policy was costing the city by driving away wealthy people who would otherwise pay taxes there.

The markets mostly believe the jobs report put the damper on a September hike, but some still think the Federal Open Market Committee is likely to raise first.

In American Banker's ranking of banks with the strongest metrics, here is this year's list in the $10-$50 billion range, based on data from Capital Performance Group.

The 3 basis point gain in the 30-year fixed comes as investors are now pricing in the likelihood of a Federal Reserve short-term rate hike in September.

The online lender said its national bank will become the "primary originator," displacing the banks that are lenders of record. Loan buyers keep their role.

Supporters of mutual banks are lining up behind a proposed regulatory overhaul. The Fed's plan would make it easier for depositor-owned banks to raise capital.

Incomes have been rising faster than what buyers need to earn to afford one of these homes, but the annual gain began shrinking in January, Redfin found.

The 30-year fixed rate mortgage is at its highest point in 51 weeks with a divergence in forecasts for what happens between now and the end of the year.