Mortgages

Banks, lenders, and fintechs have been on a path toward digitizing the mortgage process from end-to-end — long before the term coronavirus entered our daily lexicon. How has the pandemic affected progress?

Housing starts and building permits both rose in September, as the housing market remains the "best part of the U.S. economy."

Despite "robust" progress, it will take "some time" for the economy to return to pre-pandemic levels, according to Fed Vice Chair Richard Clarida.

The federal funds rate target should remain at the zero lower bound until inflation reaches 2% and remains headed higher, Federal Reserve Bank of Chicago President Charles Evans said Monday.

Payrolls were added and the unemployment rate fell, but some observers saw negatives in the September employment report.

The end-of-month economic data was positive, with even GDP coming in above expectations.

While not a huge gain, "claims remain staggeringly high" six months into the economic downturn, analysts say.

The housing market continues to lead all sectors in recovery, althoough a manufacturing and two services surveys also showed signs of recovery.

Jobless claims declined, but remain elevated, housing starts and building permits also slid, while manufacturing in the Philadelphia region expanded at a slower pace.

The August employment report was better than anticipated, which could impact the stimulus package being negotiated in Washington, analysts say.