Economy

Even with the 9 basis point rise this week, they have remained at the same level since mid-December, and that should bring people into the market, Freddie Mac said.

Its January forecast reverses the call first made in April 2022 that the U.S. economy would slip into an extended downturn.

The Cleveland-based regional bank was not well positioned for the sharp rise in interest rates last year. But executives say the year ahead will be different, pointing to strong credit quality and a repricing of Key's securities portfolio.

The Dallas bank's full-year results showed progress toward its long-term strategic goals despite a fourth-quarter drop-off in net interest income heavily tied to its mortgage business, executives said on an earnings call.

The move is somewhat counterintuitive relative to other market signals but Fannie Mae generally forecasts a net positive shift in lending conditions this year.

Despite widespread impressions that the economy is proving resilient and a "soft landing" is possible, banks are decidedly pessimistic about the economy.

For the past week, the benchmark 10-year Treasury closed above 4%, as the markets priced in an increase in the consumer price index.

An initiative in Baltimore to use blockchain tech to track and manage vacant properties is a prime example of how blockchain can help solve stubborn problems, even if it isn't ready to revolutionize the fundamentals of commerce.

But this week the 30-year fixed rate mortgage average increased for the first time in two months.

Banks, payment companies, mortgage lenders and insurance providers are racing to seize an advantage from generative artificial intelligence. Some have been especially aggressive in deciding which workflows — or entire jobs — can be handed off to AI.