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Average incomes for this age group increased by 24% since 2012, but housing prices jumped 86%.

The enormous issuance is backed by a single loan secured by first-priority mortgages on a pool of about 6,148 single-family rental homes, and 299 townhouses.

President Joe Biden and fellow Democrats are racing to reach agreement on a scaled-back version of his economic agenda, with a self-imposed deadline and his departure later this week for summits in Europe intensifying pressure on negotiations.

The deal is fortified with collateralization, subordination and reserve accounts throughout the capital structure to get most of the notes to top ratings.

Bond traders’ expectations for how fast inflation will rise over the coming five years have topped 3% for the first time on record.

Trustmark Bank agreed to pay $9 million to resolve allegations that it discriminated against Black and Hispanic residents in Memphis, Tennessee. Attorney General Merrick Garland said the Department of Justice and other agencies will continue their crackdown.

The industry is prioritizing Black and Hispanic consumers in the interest of social equity and to tap new markets amid declining refinance volume and rising rates.

Roger Hochschild predicts consumers will keep using their Discover cards in the months ahead, particularly when shopping online.

The supply chain crunch appears to be reflected in this deal, which has the smallest collateral pool of lease contracts since 2019, at 35,020.

Market-implied expectations for U.S. inflation for the next half-decade surged to the highest in 15 years amid the latest increase in commodity prices.