Economy

Lower inflation and a slowing jobs market is the driver of the new forecast, but housing will not see any immediate benefits.

Vice President Harris' surprise elevation to the top of the Democratic ticket and the ascent of Ohio Sen. J.D. Vance to be the Republican vice presidential pick brings renewed vigor to each party's economic vision.

The guidance is largely unchanged from what the agencies proposed last year. It directs institutions to craft policies that consider a wide array of potential shortcomings.

Even though the 30-year fixed rate mortgage is at its lowest level since mid-March, consumers are being cautious in returning to the market, Freddie Mac said.

The Cleveland-based regional bank continues to benefit from strength in investment banking, though concerns about stalled loan growth emerged as CEO Chris Gorman described demand as tepid.

Nearly all of the economists surveyed by Wolters Kluwer in July expect the FOMC to reduce short-term rates, but less of them expect it to happen at the September meeting than the number who believed so last month.

For at least the fifth consecutive quarter, the Providence, Rhode Island, company increased its allowance for credit losses on general office loans, which continue to be a problem area for banks.

The Congressional Budget Office acknowledged limitations in its research of expected flood damage data.

Positive signs on jobs and inflation help drive the 10-year Treasury yield lower, and lead investors to forecast a short-term rate cut sooner than later, Freddie Mac said.

More than 50% of aspiring buyers expect their next purchase will cost less than the latest median value, according to the National Association of Home Builders.