U.S. homeowners have more housing wealth than ever before, thanks to fast-rising home prices over the last several years. But they aren't spending much of it.
The Fed's quarter-point rate hike will impact a range of consumer borrowing and savings costs, including mortgages, credit cards, car loans and deposit rates.
Bessent defended the administration's Treasury-market intervention, economic record and AI policy while lawmakers tried to pin him down on borrowing and energy.
Mortgage lenders that work with Fannie Mae and Freddie Mac, government-sponsored enterprises, have the green light to use VantageScore 4.0 if they want to.
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