Economy

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.

But those rates are still relatively high, and that is a barrier to entry for potential homebuyers, Freddie Mac said.

To serve an increasingly online audience, POS Nation has acquired agriculture e-commerce platform GrazeCart, an example of vendors joining forces to adapt to shifts in the agriculture industry.

The latest inflation news has created concern that the Federal Reserve's pivot on short-term rates could be delayed.

Investors have hammered the New Jersey-based lender following the turmoil at New York Community Bancorp. But Valley executives say there are key differences between the two real estate-focused banks, and they express confidence that the bank's underwriting will hold up again this cycle.

The government-sponsored enterprise financed 955,000 mortgages last year, down from the 1.8 million loans it backed in 2022.

When the 2018 Dodd-Frank reform bill lifted the asset bar for enhanced prudential standards for banks from $50 billion to $100 billion, few thought it was controversial. Recent turmoil among regional banks suggests the change may have created as many problems as it solved.

Treasury Secretary Janet Yellen didn't directly address the turmoil at New York Community Bank, and said that while some smaller institutions could be hit by a changing commercial real estate market, she doesn't anticipate these mortgages will become a systemic risk.

In correspondence with Rep. Andy Barr, R-Ky., the Federal Reserve and Office of the Comptroller of the Currency said the Securities and Exchange Commission's proposed safeguarding rule could change banks' custody businesses.

Valley National, based in Morristown, New Jersey, has a high exposure to commercial-property loans relative to its peers. The bank reported that almost half its $50.2 billion loan book was in commercial real estate as of Dec. 31, with heavy exposure to New York, Florida and New Jersey.

Experts predict the number of small businesses turning to an employee-ownership model will accelerate in the coming years. The would mean opportunities for banks that advise on such transitions.

The longtime Most Powerful Women in Banking honoree looks back on her 40-year career and the power of persistence.

While less disputed than the Basel III endgame, the Federal Reserve's proposed framework for measuring and offsetting systemic risk within the nation's largest banks has sparked its own debate about what needs to be reported and the Fed's desired policy outcome for foreign subsidiaries.

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.