Economy

Scott Turner, President Trump's pick to head the U.S. Department of Housing and Urban Development, faced opposition from Democrats on the Senate Banking Committee, but his nomination was nonetheless approved by a vote of 13-11.

The 30-year fixed rate mortgage fell back under 7% this week, the Freddie Mac survey found. But Treasury yields started rising again in recent days.

Higher mortgage rates will persist through 2026, affecting sales and refinancings. Those expectations led Fannie Mae to cut its volume outlook for the next two years.

Trump's pick for treasury secretary commits to a thorough and careful recapitalization and release process for Fannie Mae and Freddie Mac.

It's not an unthinkable notion. There have been a handful of attempts at systematically moving populations away from regions severely affected by climate change.

Sunsetting the federal oversight of Fannie Mae and Freddie Mac could ease the cost of renewing President Trump's 2017 tax act, but doing so is an uphill battle.

Single-family starts, which account for most new construction, climbed 3.3% to a 1.05 million annualized rate, also the strongest since February 2024.

The 30-year fixed rate mortgage topped 7% for the first time since last May, although late in the week, the 10-year Treasury peaked before reversing course.

Gov. Gavin Newsom modeled his latest order on a similar ban imposed in Hawaii following the 2023 Maui wildfire that aimed to protect community wealth.

Banks seeking to offload CRE assets are finding a receptive marketplace while regulators have managed to keep the situation in balance, observers say.