Economy

President-elect Trump's victory will have a direct impact on how much the Federal Open Market Committee will cut short-term rates next year, Wolters Kluwer found.

Average rates for the 30-year fixed fell for the third consecutive week, Freddie Mac said, but the 10-year Treasury yield rose to the highest point in weeks.

The Federal Deposit Insurance Corp.'s Q3 Quarterly Banking Profile report highlighted net bank income falling 8.6%, but also showed slow delinquency growth in commercial real estate and core income metrics improving across the banking sector.

The Financial Stability Oversight Council's annual report underscores mounting challenges in commercial real estate, escalating cyber threats, and regulatory gaps in third-party services and stablecoins, urging stronger oversight and legislative action.

The influence of expected policy changes from President-elect Trump will have on real estate next year could be mitigated by economic factors, Realtor.com said.

The 30-year fixed rate mortgage is at its lowest point since the end of October, but it is still relatively elevated at near 7%, Freddie Mac reported.

The group is calling for the Trump administration to preserve certain features if it picks up where it left off and finishes cutting ties to the Treasury.

Federal Reserve Gov. Christopher Waller, a Trump appointee, said that while recent inflation readings are concerning, monetary policy would remain restrictive even if the central bank cuts interest rates by another quarter-point this month.

For the second time in the past three weeks, the 30-year fixed mortgage moved lower, but investors want clarity about U.S. economic policy, Freddie Mac said.

The president-elect had billed his hardline stance on the border and promised deportations as a solution to tight housing markets. Experts say those policies, at least in terms of housing, could do more harm than good.