Economy

The launch of joint-venture business Aclara Lending comes through a new agreement between the real estate enterprise and mortgage broker Barrett Financial Group.

In their only vice presidential debate, Democratic nominee and Minnesota Gov. Tim Walz talked about how housing should not be considered a "commodity," while Republican Sen. J.D. Vance tied housing shortages to illegal immigration and government regulation.

Homes are 4.4% more affordable, the first annual improvement in years, while first-time buyers with lower incomes can qualify for a median priced house.

The core personal consumption expenditures price index increased 0.1% from July, and on a three-month annualized basis, it rose by 2.1%.

Mortgage rates being at a two-year low has not moved potential buyers off the sidelines, Freddie Mac says, but Redfin says demand for home tours is up.

A letter from several U.S. senators asked Director Sandra Thompson to follow the lead of her counterparts at other government-housing departments with similar rules already in place.

While consumers still see a low chance of a recession in the next year, there was a "slight uptick" in the share that believes the economy is already in a downturn.

The Federal Home Loans Bank System is under pressure to fund more affordable housing and has several proposals that may work in tandem with Vice President Kamala Harris' goal of building three million new units in her first term.

While the Freddie Mac survey found the 30-year fixed fell 11 basis points, other indicators, including the 10-year Treasury yield, have all increased.

Fannie Mae's economists are pessimistic about the future for existing home sales, reducing its purchase volume outlook in both 2024 and 2025.