Real gross domestic product increased at an annual rate of 3.3% in the second quarter of 2025, according to the Commerce Department’s second estimate. GDP decreased 0.5% in Q1. The increase in real GDP in Q2 reflected a decrease in imports, which are a subtraction in the calculation of GDP, and an increase in consumer spending. Both were partly offset by decreases in investment and exports.
FinCEN issued an advisory urging financial institutions to be vigilant for suspicious activity related to Chinese money laundering networks used by Mexican drug cartels.
The rate for a 30-year fixed-rate mortgage was 6.56% this week. The rate for a 15-year fixed-rate mortgage was 5.69%.
Pending home sales fell 0.4% in July from the prior month, the National Association of Realtors said. Year over year, pending transactions were up 0.7%.
Federal Reserve Governor Lisa Cook filed a lawsuit against President Trump for his attempt to remove her from the Fed board, saying the president’s actions are “unprecedented and illegal.”
Most U.S. small-business owners expect their revenue to grow, with many also embracing artificial intelligence with “enthusiasm and caution,” according to a new survey by Comerica Bank.
The Small Business Administration has ordered its network of more than 5,000 lenders to end any practices that result in “debanking,” adding that lenders who fail to comply will “lose their good standing with the SBA and will...
