December's average balance for a mortgage to purchase a newly constructed property set an all-time high, the Mortgage Bankers Association's Builder Application Survey found.

Part of the proceeds will be used to help fund Planet Fitness’ acquisition Sunshine Fitness Growth Holdings, which owns 114 franchise locations.

In addition to being almost entirely composed of investment-purpose mortgages, about 100% of the pool’s 2,175 mortgages are agency eligible.

The deal is the latest example of a mainstream bank buying a point-of-sale lender focused on financing home improvement projects.

The largest bank based in oil-rich Texas is building a framework for gauging the threat that climate change poses to its business and plans to disclose more information on the subject this summer. Meanwhile, its energy loan portfolio shrank 24% year over year.

The new offering’s loan structure is designed to hedge against digital currency's price volatility.

A broader investor base, rising inflation and higher interest rates are likely to result in significant demand for CLO bonds, which have experienced few defaults.

The restoration and reconstruction services industry is expected to grow steadily at about 4% annually over the next several years, partly due to extreme weather events.

The Federal Reserve Board would become far more diverse if Sarah Bloom Raskin, Philip Jefferson and Lisa Cook are confirmed by the Senate. Jefferson and Cook are respected economists seen as likely to get the nod, but Republicans will challenge Raskin's assertions that bank regulators can play a vital role in combating climate change.

One potentially positive aspect of the transaction is that Foursight is a wholly owned subsidiary of Jefferies, a well-capitalized parent.

President Biden’s aspirations for aggressive forgiveness haven’t been fulfilled to date, but steps taken so far have lowered a key hurdle to entry-level homeownership.

Labor and supply-chain issues, coupled with rising inflation and higher interest rates, but not the omicron surge, are shaping a slightly more negative view.