Economy

But strong g-fees, a positive credit-loss adjustment and stable home prices bolstered results despite declines in mortgage purchases to lows not seen in some time.

The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.

Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.

The Federal Deposit Insurance Corp. says it's ready to wind down the global systemically important banks. But until that happens, many in the banking industry are skeptical that regulators have actually developed a workable strategy to end "too big to fail."

But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.

Federal Deposit Insurance Corp. Chair Martin Gruenberg said last week that regulators have the tools they need to allow big banks to fail in an orderly fashion. But resetting public and market expectations is not so easy.

Mortgage rates rose this week as investors priced stronger than expected inflation and jobs affecting Fed moves into the 10-year Treasury.

The memorandum creates channels for sharing information about nonbanks between the Federal Housing Finance Agency and the Conference of State Bank Supervisors.

The decision to approve the fintech's application to make 7(a) loans came nearly a month after Funding Circle's U.K.-based CEO hinted it is considering a sale of its U.S. operations, alarming some members of Congress.

But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.

The Federal Reserve has engaged in a yearslong series of "Fed Listens" events to sharpen their understanding of the intricacies of the modern economy. Those with the maneuverability to help struggling industries should do some listening of their own.

Lower commodity prices and decreases in government assistance are expected to push farm income lower this year and raise credit risk for banks.

Instability in mortgage rate movements should continue in the weeks ahead, even with Fed Chairman Jerome Powell's comments on inflation.

Policy experts say the mix of proposals put forth by the White House could ease the nation's housing shortage, but success will be neither quick nor assured.

The average 30-year fixed mortgage rate for conforming loans fell, according to Freddie Mac, even as the 10-year Treasury yield rose nearly 18 basis points from the start of this week.

A bipartisan group of senators called on the Federal Deposit Insurance Corp. to exercise transparency and expedience in evaluating industrial loan company applications, which grant a type of charter industry experts say is unlikely to be issued in this administration.

The Congressional Budget Office put an estimate on the net government subsidy provided to the Federal Home Loan Bank System, including the so-called "implied guarantee," on bonds priced and sold to investors.

Data as of Dec. 31, 2023. Dollars in thousands.

Data as of Dec. 31, 2023. Dollars in thousands.