Economy

Contract closings decreased 1% from a month earlier to a 3.78 million annualized rate, according to National Association of Realtors data released Friday.

The Dallas bank's full-year results showed progress toward its long-term strategic goals despite a fourth-quarter drop-off in net interest income heavily tied to its mortgage business, executives said on an earnings call.

Ohio Gov. Mike DeWine rolled out the Welcome Home Ohio program, a product of the Ohio legislature's biennium budget bill, House Bill 33.

The move is somewhat counterintuitive relative to other market signals but Fannie Mae generally forecasts a net positive shift in lending conditions this year.

The financial services executive also previously served in leadership at Morgan Stanley and Carver Federal Savings Bank.

The Fed governor offered some of the most detailed remarks to date around the Federal Open Market Committee's intentions to ease monetary policy this year.

For the past week, the benchmark 10-year Treasury closed above 4%, as the markets priced in an increase in the consumer price index.

The consumer price index increased 3.4% in the year through December, the most in three months, led by increases in shelter costs.

The number, juxtaposed with a recent survey that suggests companies will hire, raises questions as to whether numbers have bottomed out. Much depends on rates.

But this week the 30-year fixed rate mortgage average increased for the first time in two months.