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While August's views on buying conditions and rates increased over July, the other components in Fannie Mae's sentiment index all declined, driving it lower.

The deal features a full turbo amortization structure, where all collections will be applied to amortize the bond principal. No cash will be paid to the sponsor until the bonds are paid in full.

Black homeownership fell to 43.9% this summer, its lowest since 2021, as rising unemployment and federal layoffs widened housing gaps across demographics.

White House National Economic Council NEC Director Kevin Hassett endorsed insulating the Fed from political pressure but echoed Trump allies' calls for reevaluating its mission.

The attention will now turn to reports on producer prices and consumer prices, due Wednesday and Thursday, for signals of how quickly the Federal Reserve will lower borrowing costs.

The Consumer Financial Protection Bureau has released a packed agenda centered on rewriting rules ranging from small business lending to open banking while rescinding several rules finalized under the Biden Administration last year.

The assets' legal isolation means that the NCUA exercising its powers in a way that would reduce payments to the notes is a remote possibility.

Debt markets globally were roiled this week as the yield on the 30-year Treasury rose to almost 5% before easing in the past two sessions.

Stephen Miran will take unpaid leave from and might seek to return to President Trump's Council of Economic Advisers, he said, raising conflict of interest questions in his nomination hearing for a seat on the Federal Reserve Board.

The 30-year conforming fixed rate mortgage ended this week at its lowest since last Oct. 17, helped by bond traders pricing in a reduction in short-term rates.