Economy

The legislation has support among Republicans, who hold a slim majority in the chamber.

Gross domestic product is now forecast to only contract in the final three months of the year, and it's projected to merely stagnate in the third quarter instead of shrink, a June survey showed. 

The markets had a muted reaction to the Federal Open Market Committee pause on raising short-term rates a week ago, Freddie Mac found.

But the Mortgage Bankers Association also raised the dollar volume that it predicts the purchase market will originate this year.

Fee hikes at the government-sponsored enterprises are one remedy, the government-sponsored enterprise's regulator noted in its annual report to Congress.

Alimited supply of existing homes continued to spark interest in new construction, the National Association of Home Builders found.

The government-sponsored enterprise's chief executive managing the issue is looking at how things like roof pitch can mitigate the impact of natural disasters on homes.

While home sales should remain constrained this year because of higher rates, growth in the entry-level market has far outpaced that for above-median income families.

The average for the 30-year fixed slipped 2 basis points in anticipation of the Federal Open Market Committee pausing short-term rate hikes, said Sam Khater, chief economist.

Economic analysis from the real estate advisory CBRE finds that community banks are particularly imperiled by their exposure to commercial real estate loans. Others see looming risks in indirect lending.