Tax

The Federal Reserve's monetary policy committee is expected to leave interest rates unchanged again Wednesday amid reports of renewed economic growth in the second quarter and despite ramped up pressure from the White House to cut rates.

President Donald Trump said he is considering a proposal to end capital gains taxes on home sales in a bid to boost the housing market.

The Senate passed a bipartisan bill that would provide tax-filing relief for taxpayers in states that have issued state-level disaster declarations, sending the bill to President Trump for his signature.

The "One Big Beautiful Bill" is full of wins for homeowners and builders. But its effects on lenders and borrowers is more unclear.

Steep trade barriers that were set to go into effect on July 9 have once again been put on pause, giving banks a welcome reprieve, but adding still more pressure and uncertainty on the Federal Reserve and the broader economy.

While more consumers expect purchase conditions to improve, potential job loss weighs on the mind of a growing number of likely homebuyers, Fannie Mae found.

House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.

The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.

The Senate version makes permanent the mortgage interest and mortgage insurance premium reductions, removes the revenge tax but also cuts CFPB funding.

The Senate advanced the One Big Beautiful Bill Act through a procedural vote, opening the legislation for debate followed by Monday's vote-a-rama.