"The current approach is clearly failing the American people. Democrats and Republicans agree that affordable housing is too scarce and costs are too high. Maybe there's a chance for bipartisan cooperation." --MBA President and CEO Bob Broeksmit, CMB, speaking at the MBA Compliance and Risk Management Conference on Sept. 23

The FOMC lowered the target Fed Funds rate by 50 basis points at its September meeting and signaled that this is the first cut in a series that is expected to bring the Fed Funds rate down by about 2 percentage points by the end of 2025.