Economy

Treasury Secretary Scott Bessent said he expects negotiations with trading partners over tariffs to conclude by the end of the year but acknowledged that talks with China had not yet begun.

President Donald Trump's proposed budget would nix funding for Community Development Financial Institutions in minority-heavy areas while expanding it for rural areas.

Pricing on the 30-year fixed rate mortgage retreated this week as investors digested some economic news, including a GDP contraction in the first quarter.

The Long Island-based regional bank, which reported another quarterly loss Friday, continues to hire in the commercial-and-industrial lending sphere as it seeks to diversify its commercial real estate-heavy business.

Doug Duncan may be retired from Fannie Mae, but not from the housing market—his new firm is ramping up with writing, speaking, and advisory work.

It is quite likely March's drop in the Purchase Application Payment Index will be transitory as mortgage rates have increased since the start of April.

Whether current conditions favor buyers or sellers is up for debate, as economic uncertainty begins to influence consumer behavior, The Real Brokerage said.

Don Layton, former Freddie Mac CEO, and self-proclaimed "GSEologist" predicts that a release of the two entities will occur within four to six years.

The International Monetary Fund lowered its economic growth projections for 2025, citing policy uncertainty. It also urged central banks to stand ready to use macroprudential tools to facilitate lending in a potential recession.

House Financial Services Committee ranking member Maxine Waters, D-Calif., led a group of Democrats in challenging Treasury Secretary Scott Bessent over the current state of the Community Development Financial Institutions Fund.