The average size of a new mortgage just set a record, as home prices continue to climb
Rising mortgage rates are crushing refinance demand, and higher home prices are causing purchase loan sizes to grow.
Vote on Biden Fed picks delayed as GOP presses for answers on Raskin’s ties to firm
A Republican boycott Tuesday held up a Senate committee vote on the appointment of a top banking regulator and Federal Reserve Chairman Jerome Powell.
Retail sales surge 3.8% in January, much more than expected amid inflation rise
Retail sales for the month rose 3.8% in January, much better than the 2.1% Dow Jones estimate.
Bank of America CEO Brian Moynihan says U.S. consumer spending ‘very strong’ in February
Bank of America's relationships with U.S. households, small businesses and corporations give Moynihan a unique view into the health of the economy.
A new inflation reading shows the small business tipping point has been reached
More small business owners say they need to raise prices and don't expect inflation to decline, a signal that higher prices have overtaken Main Street.
Fed’s Bullard says the central bank’s ‘credibility is on the line,’ needs to ‘front-load’ rate hikes
St. Louis Fed President James Bullard made his case for a rapid move higher in rates, saying that the central bank needs to react to...
Fed’s Daly advocates for a ‘measured’ approach as rate hike expectations rise
The Federal Reserve should be measured in its path to raise interest rates, San Francisco Fed President Mary Daly said Sunday.
Homebuyer demand for mortgages drops 10%, as higher interest rates price some people out
Rising mortgage rates are finally taking a toll on homebuyers, who are already stretched by high home prices. As a result, demand for mortgages fell.
Fed’s Bostic says more than 3 hikes possible this year, but needs to see how economy responds
Bostic said he anticipates hiking interest rates three or four times this year, but the central bank isn't locked into a specific plan.