Existing home sales increased 4.8% in November to a seasonally adjusted annual rate of 4.15 million, the National Association of Realtors reported today. Sales rose 6.1% from a year ago. Total housing inventory in November was 1.33 million units. The median home price was $406,100.
The rate for a 30-year fixed-rate mortgage was 6.3% this week. The rate for a 15-year fixed-rate mortgage was 5.64%.
The FCC unanimously voted to move forward with proposed rulemaking to impose stronger “know your customer” requirements on voice service providers that originate calls. In addition, the FCC plans to soon take up a related proposal to remove...
The House voted 224-200 in favor of its version of the Farm Bill, sending the legislation to the Senate.
The CFPB has finalized revisions to its small-business lending data rule to scale back the scope of data collection, according to a notice in the Federal Register.
ABA economists believe this PCE release highlights renewed inflation concerns and increased risks of higher interest rates. For banks, higher rates could suppress commercial real estate and housing activity for businesses and consumers.
Headline growth is supported by solid personal consumption and private investment, even amid higher energy prices and heightened global uncertainty.
