The Senate Banking Committee voted 13-11 along party lines to advance the nomination of Kevin Warsh to become the next chairman of the Federal Reserve. Warsh’s nomination was in doubt when Sen. Thom Tillis (R-N.C.), who sits on the Senate Banking Committee, pledged to...
Mortgage application activity declined during the week ending April 24, according to data from the Mortgage Bankers Association. The Market Composite Index, the MBA’s measure of mortgage loan application volume, decreased 1.6% on a seasonally adjusted basis from one...
The Bank of Canada announced it is holding its overnight rate at 2.25%, with the Bank Rate remaining at 2.5% and the deposit rate at 2.20%, respectively. “Financial conditions have been volatile, reflecting daily developments in the Middle East and shifting market...
Total commercial real estate mortgage borrowing and lending is estimated to have totaled $706 billion in 2025. According to data from the Mortgage Bankers Association, last year’s total marked a 40% increase from the $505 billion in 2024 and a 65% spike from the $429...
The Departments of Housing and Urban Development (HUD) and Agriculture (USDA) have rescinded a Biden-era policy requiring all new home construction ineligible for an FHA or USDA-backed mortgage loans unless the property was built according to the 2021 International...
A proposed redevelopment project in Albany, New York, that was centered around the creation of an 8,000-seat minor league soccer stadium is going forward without the sports venue. The Albany Times-Union reports the project to reanimate the downtown section of the New...
