Podcast: Why middle market businesses are growing more optimistic

While both rates have increased and the yield curve remains upward sloping, it has flattened as the two-year yield has risen faster than the 10-year yield, suggesting that the market expects the Fed to keep short-term interest rates...

Industrial production was unchanged in August, after edging up 0.2% in July. In August, manufacturing output decreased 0.3%, and the index for mining and utilities rose 0.1% and 1.8%, respectively.

Homebuilder confidence in the market for newly built single-family homes fell three points to 32 in September, according to the National Association of Home Builders/Wells Fargo Housing Market Index.

The rate for a 30-year fixed-rate mortgage was 6.95% this week. The rate for a 15-year fixed-rate mortgage was 6.26%.

Housing starts have been on a downward trajectory since peaking in 2022. However, single-unit starts increased 7.6% from July. Paired with continued elevated mortgage rates, banks may experience reduced demand for mortgages and construction loans.

House Financial Services Committee advanced legislation to prevent states from imposing interest rate caps on loans from out-of-state state-chartered banks and credit unions. Committee members also advanced a CFPB reform bill.