Economy

Consumer and business confidence is already under immense pressure from the rising cost of living, at the same time that equity, bond and real estate prices are falling.

Following the Consumer Price Index release, the 10-year Treasury yield broke through 4%, making continued increases likely.

Rising interest rates could force some community banks to fall below a critical capital threshold that the Federal Housing Finance Agency uses to determine eligibility for Home Loan bank advances.

And rising rates caused the government-sponsored enterprise to cut its forecast for this year.

Dozens of community bankers and housing experts offered their opinions on the Federal Home Loan Bank System, the first review in nearly 100 years. But the insurers, nonbanks and megabanks that use the system the most were largely absent from the debate.

Fannie Mae's sentiment index is at its lowest point since October 2011, as more consumers think prices will go down than those that expect them to rise.

But that was not enough to offset the fourth consecutive monthly decline in total nonbank industry jobs, according to the Bureau of Labor Statistics.

The number of sellers discounting their original listing grew by over 83% year over year, according to HouseCanary.

The decline ended a six-week streak of increases, but given the latest moves in the 10-year Treasury yield, rates are likely to soon rise again.

The new chief executive comes to the government-sponsored enterprise from national nonprofit Enterprise Community Partners and previously held management roles at JPMorgan Chase.