Podcast: How Small Businesses Survived COVID and Are Poised for Recovery

Pending home sales in September decreased by 7.3% month-over-month and 11.3% year-over-year, according to the National Association of Realtors.

ABA economists believe results are consistent with a sluggish housing market challenged by affordability concerns, labor shortages, and increasing input costs and suggests residential building activity could remain subdued in the face of elevated mortgage rates.

All major market groups posted gains in September except business equipment, which was unchanged. The production of consumer goods rose 0.7%, reflecting an increase in the index for nondurable goods that more than offset a decline in the...

As labor market momentum slows and households face continued price pressures, household wealth is an important source of support for consumer spending.

The rate for a 30-year fixed-rate mortgage was 7.4% this week. The rate for a 15-year fixed-rate mortgage was 6.71%.

Two Federal Reserve districts reported moderate growth in economic activity, three districts reported modest growth, four reported slight growth and three reported no significant change.