Economy

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.

The new commercial real estate team fills a longstanding gap in Nomura's securitized products and private credit unit.

Federal Reserve Bank of St. Louis President Alberto G. Musalem said central bank autonomy leads to lower inflation and stable employment numbers. His comments come amid the Trump administration's attempt to remove a Fed board member for cause.

Orlando-based Cogent Bank has hired a team to finance single-tenant net lease properties, an asset class characterized by exceptional credit quality.

The 30-year fixed rate mortgage fell 2 basis points this week, Freddie Mac said, but other sources like Zillow and Lender Price reported larger drops.

The increase in purchase volume was not enough to offset the drop in refinance application submissions as conventional rates increased week-over-week.

Data suggests that the beleaguered commercial real estate market isn't going to get worse. And now that banks have had time to build reserves, any losses they do take shouldn't be disastrous, analysts say.

A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau's ability to designate nonbank entities for supervision.

While still higher than the norm, the reduction in this spread is good news when it comes to mortgage rates for potential homebuyers as well as current owners.

The President said in response to a press question about Federal Reserve Gov. Lisa Cook that he would fire her "if she doesn't resign" over allegations of claiming primary residence at two properties she owns, though the legality of such a move is unclear.