Podcast: The economic realities underneath every ordinary decision

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 ABA Foundation celebrated the 24th annual Get Smart About Credit Day with the release of expanded resources designed to help bankers provide teens and young adults with practical financial education.

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%.