Industrial production increased 0.8% in May. Total industrial production in May was 16.3% higher than its year-earlier level but remains 1.4% below pre-pandemic levels.
Manufacturing output increased 0.9% in May. Durable manufacturing increased 1.0%, while nondurable manufacturing increased 0.8%. The output of utilities rose 0.2% from April. Mining production increased 1.2% in May.
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The rate for a 30-year fixed-rate mortgage was 6.09% this week. The rate for a 15-year fixed-rate mortgage was 5.44%.
With PCE inflation closer to 3% than the Fed’s target of 2%, affordability will continue to affect consumer sentiment.
The final estimate of Q3 GDP confirms the U.S. economy is strong and growing at a rapid pace.
Pending home sales in December dropped 9.3% from the prior month and 3% year over year, according to the National Association of Realtors. There were 1.18 million homes on the market.
Bankers face challenges and opportunities in multiple key areas.
Bank advocates expect 2026 to be a hectic year for state legislation, with possible bills on interchange fees, fraud, AI and more.
