Sales of new homes tanked in May, pushing supply up to a 3-year high

New home sales dropped much more than expected, as high prices, high mortgage rates and weak consumer confidence ate into demand.

Mortgage rates and demand are stuck in a holding pattern

Economic uncertainty at home and military conflicts overseas are still having little impact on bond markets, and consequently mortgage rates are stuck.

Home price hikes are slowing more than expected

Home prices are starting to weaken due to higher mortgage rates, more supply on the market and waning demand from homebuyers concerned about the economy.

Fed Chair Powell: I see significant change in tone around digital assets

Federal Reserve Chair Jerome Powell testifies before the Financial Services House Committee.