Durable Goods Orders Rose 2.4% in December

The Federal Open Market Committee announced that it would lower the target range for the federal funds rate by 50 basis points to 4.75-5%.

The OCC released the second quarter 2024 mortgage metrics report, which showed that 97.3% of first-lien mortgages in the federal banking system were current and performing at the end of the quarter.

Housing starts increased by 9.6% in August from the month prior to a seasonally adjusted annual rate of 1.36 million, the Commerce Department reported.

Business inventories in July came in at $2.57 trillion, up 0.4% from the month prior and up 2.5% from a year ago, the Commerce Department said.

Builder confidence in the market for single-family homes in September was 41, up two points from the previous month, according to the NAHB/Wells Fargo Housing Market Index.

Industrial production increased 0.8% in August from the previous month, the Federal Reserve reported.