Economy

Recent economic data pushed investors toward Treasurys over the past week, driving 10-year yields to as low as 4.1%.

The 30-year average declined for the fifth consecutive week, as purchase demand picking up at the same time, according to Freddie Mac.

The move gives stockholders a greater portion of recurring, predictable income as private equity asset sales stagnate due to higher interest rates and jitters over a potential recession. In exchange, the firms' dealmakers will get a bigger slice of the gains when their investments pay off.

Total loans at U.S. banks with less than $10 billion of assets grew by 1.9% in the third quarter, according to S&P Global Market Intelligence data. That was a slowdown from the previous quarter, and concerns about the viability of commercial real estate lending could dampen activity further.

The Federal Reserve's vice chair for supervision said new definitions around community development activities and the ability for banks to invest outside their immediate assessment areas could be a boon to Native Americans and their communities.

Stress tests suggest systemically important depositories could weather current risks. Meanwhile, single-family arrears remain low, but that business could be impacted.

In Canada and the U.K., borrowers can take mortgages with them from home to home. Some say this feature could unlock the U.S. housing market, but others say it would be more trouble than it's worth.

Even if the 30-year fixed were to slip further to 6.4%, it is not enough to end the seller's strike, economists said.

In her first remarks since the release of a sweeping report on the banks, Federal Housing Finance Agency Director Sandra Thompson urges them to strengthen underwriting and communication with their members' regulators.

Federal Housing Finance Agency Director Sandra Thompson is pushing for a quick launch of pilot programs at the 11 Federal Home Loan banks to help underserved communities after its report this week prescribed major reforms to the system.

Changes being considered by the Federal Housing Finance Agency would make liquidity more expensive and complicated to obtain. But first, those reforms will have to overcome the political power of a wide range of financial institutions that benefit from the status quo.

Broader economic factors, including growing household debt, are also likely to keep the housing market stagnant, Freddie Mac said.

The Federal Housing Finance Agency says it wants to more closely tether Federal Home Loan bank advances to housing and community development. Doing so will first involve clearly defining the banks' mission through regulation.

The National Credit Union Administration approved the Young Community Federal Credit Union to begin operations in Kentucky soon. An organization in Maryland is shooting for a 2024 opening.

The card giant is offering small merchants a debit card and account that provides a view of their cash flow across multiple products. Experts say this is a good step but that business owners may want more.

The Federal Housing Finance Agency said in a long-awaited report that it will set up new guardrails for the Federal Home Loan Banks to ensure that the institutions are serving a housing-centric mission.

Often a harbinger of recessions, the fact that short-term yields are higher than long-term is not inherently bad, Federal Reserve Gov. Chris Waller said Tuesday, noting that in this case it could prove that market expectations are anchored.

A.E.A. Federal Credit Union in Yuma said it would acquire West Valley National Bank in a bid to expand into Phoenix and Las Vegas.

Consumer spending has driven core inflation metrics to their highest levels in months, according to data released by the Bureau of Economic Analysis. Higher inflation will likely serve as a signal to the Federal Reserve to maintain high interest rates.

The Federal Reserve released its semiannual financial stability report highlighting elevated asset values, funding issues and pockets of leverage as top concerns.