Economy

On Wednesday, Douglas Elliman announced a companywide AI overhaul, saying it will launch a new business, Elius, that aims to turn decades of proprietary real estate data into AI-powered products and market intelligence the company will sell to external customers.

The US bond market faces a test of investor demand for longer-dated maturities, with auctions of 10- and 30-year Treasuries highlighting an otherwise light week for economic events.

The June jobs report is creating an overhang on economist forecasts for interest rates going forward, especially when combined with recent inflation data.

The move may have been related to the government-sponsored enterprise's duration gap but could also have resulted from many other considerations.

JPMorganChase and Bank of America raised concerns about the proposed removal of risk-weighted assets from the denominator of the short-term wholesale funding component of the GSIB surcharge — changes backed by Goldman Sachs and Morgan Stanley.

The bill was one of three filed on Thursday aimed at reforming the two government-sponsored enterprises, all of them from Representative Scott Fitzgerald, a Wisconsin Republican. 

President Donald Trump said he wouldn't sign the housing bill, which includes several riders aimed at helping community banks, until Congress passes the SAVE Act.

The bipartisan legislation aimed at reducing barriers to new home construction, which included certain community bank riders, passed the lower chamber by a 358-32 vote.

The Senate passed a bipartisan housing package, which includes certain community bank provisions, in an 85-5 vote. The House is set to vote on the package Wednesday.

The industry association said total multifamily mortgage debt alone increased by $23 billion, or 1% in Q1, representing a $2.32 trillion increase from Q4 2025.

The changes provide standardized appraisal guidance in advance of a mandatory compliance date to a new reporting format in November this year.

The government-sponsored enterprise left its mortgage rate predictions unchanged for 2026 but revised next year's likely average slightly upward.

For the fifth time in the past seven weeks, mortgage rates moved higher, Freddie Mac reported, as consumer prices keep rising due to the Iran conflict.

Over three-quarters of the Wolters Kluwer Blue Chip Economic Indicators panel said the FOMC will ease eventually, but a growing number are now expecting a hike.

More than half of consumers worry about money daily, despite improved budgeting habits and, according to a Ramsey Solutions survey, declining mortgage concerns.

The 30-year fixed rate mortgage average not only remains where it was in September, it is still nearly a half-percentage point above February's trough.

The areas cited by Attom Data Solutions all have similar characteristics, namely high unemployment rates and worse foreclosure activity than their peers.

Second homes account for 10.1% of the underlying collateral pool, the highest ratio seen in pools all year.

Those who looked to sell their properties during May listed at a price 2.4% lower, as they take into account current conditions instead of being overoptimistic.

Analysts said Bill Pulte's new additional role as spy chief will further delay GSE privatization efforts, although that could change if he formally departed.