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Several Sun Belt cities popular for relocation over the last two years were among markets with the most reduced listing prices in April.

The government-sponsored enterprises will start releasing information similar to what large banks already do, starting in the first quarter of 2023.

While the purchase index registered a tiny uptick, activity has fallen to nearly the same level seen during the first months of the pandemic shutdown.

Corrigan thrived on crisis situations, a colleague said. He received plenty of practice in 25 years at the Fed and another two decades at Goldman Sachs.

The Senate voted 80-19 Thursday to confirm Powell to the top spot on the Federal Reserve Board of Governors. He joins Philip Jefferson, who was confirmed by the Senate to serve on the board Wednesday night, and Lisa Cook, who was confirmed Tuesday night.

Lorie Logan manages the Fed’s System Open Market Account and played key roles in the central bank’s crisis responses in 2020 and 2008. She replaces Robert Kaplan, who resigned amid a stock trading scandal last fall.

Purchase numbers came in higher for both conventional and government activity, while the average loan amount shows signs of easing.

The move from Republican senators mirrors an effort launched in the House, where Citibank also provides credit cards for congressional business. Republicans will be unable to enact such changes unless they take either chamber in upcoming elections.

Surging interest rates have pushed refinance applications down by over 70% in a year, while ARMs have doubled their share in three months.

Federal Reserve Bank of Chicago President Charles Evans plans to retire early next year, the bank said Thursday.

Anticipation of the Federal Reserve’s balance-sheet reduction is weighing on bonds backed by mortgages, but the actual event may make them an attractive alternative to corporate debt.

U.S. central bankers should move expeditiously and raise interest rates to neutral — the level which neither speeds up or slows down the economy — by the end of the year, Federal Reserve Bank of San Francisco President Mary Daly said.

The Federal Reserve’s most hawkish official cracked open the door to discussing the first 75-basis-point interest rate hike since 1994, a move economists say would be a last resort in case inflation further spirals out of control.

U.S. consumers expect mortgage rates to increase substantially over the next several years, with households on average projecting rates of 6.7% a year from now and 8.2% in three years, according to a survey released by the New York Federal Reserve.

The White House says the president will nominate Michael Barr, a Treasury Department veteran and one of the architects of the Dodd-Frank Act, as the central bank's vice chair for supervision.

Servicing gains failed to offset steep origination declines at the bank, which continues to battle allegations of racial discrimination.

An overly aggressive path of hikes to combat the spiraling cost of living may backfire. Bringing inflation down to 2% could push unemployment to nearly 10%.

The Federal Reserve may need to raise interest rates “significantly” higher than it currently expects to cool an overheated U.S. economy, Goldman Sachs Chief Economist Jan Hatzius said.

While the government is so far making payments, some have been delayed by banks doing lengthy checks that they aren’t breaching any restrictions.

Consumer advocates and fintechs say the traditional credit score and lending systems that use it are murky and perpetuate bias. FICO’s leader points out that new FICO scores use expanded data sets, just as fintechs do.