Browsing: Newsbytes

Economy

Real GDP for the second quarter of 2016 grew at an annual rate of 1.4%, according to the Bureau of Economic Analysis’s third estimate, up from the second estimate of 1.1%. The general picture of economic growth remained the same, as revisions to GDP components were small. The changes reflected minor upward revisions to nonresidential

Mortgage

The number of home loans backed by Fannie Mae and Freddie Mac that are 60 days or more past due or are in the foreclosure process fell 6 percent in the second quarter, following a first-quarter decline that marked the lowest level since the first quarter of 2008.

Community Banking

As part of its response to the recently concluded Economic Growth and Regulatory Paperwork Reduction Act review process, the federal banking agencies are looking to reduce burdens of appraisal requirements and to simplify regulatory capital rules for community banks, Federal Reserve Chairman Janet Yellen told the House Financial Services Committee today.

Ag Banking

As the June Farm Credit Watch first reported, three large, midwest FCS associations are moving forward with their planned merger; regulatory approval by the Farm Credit Administration is almost certain. They are AgStar, serving eastern and southern Minnesota and northwest Wisconsin; Badgerland Financial, which serves southern Wisconsin; and 1st Farm Credit Services, which serves northern

Economy

New orders for manufactured durable goods were virtually unchanged in August, following a 3.6% increase in July, according to the U.S. Census Bureau. New orders excluding defense decreased 1.0% on the month, as orders of nondefense capital goods fell 4.4% to $65.0 billion. Shipments of manufactured durable goods fell 0.4% to $231.7 billion, after being

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