Louisville Affordable Housing Policy Should Expand the Developer Pool
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Fed holds rates steady, three officials dissent favouring a hike
Federal Reserve officials left interest rates unchanged, but a fractured vote signalled growing conviction among some policymakers that higher rates are needed to curb resurgent inflation.
Inflation’s retreat opens a window — but don’t expect a rate cut
Travel costs also surged. Traveller accommodation prices in Ontario and British Columbia — concentrated in World Cup host cities Toronto and Vancouver — rose approximately 20% year over year in June. Air transportation costs, meanwhille, climbed 9.6% annually, their steepest increase since February 2023. For mortgage brokers, the read-through is clear. Leah Zlatkin, a licensed mortgage broker…
Owners of 295 Fifth Ave Push for Revival With Refinancing
A landlord trio secured more than $200 million in fresh debt following the renovation of their 19-story Midtown South office building. PGIM, Tribeca Investment Group and Meadow Partners landed a $228.9 million loan to refinance 295 Fifth Avenue, otherwise known as the Textile Building, the Commercial Observer reported. Rialto Capital Management and Hines issued the…
Trump Demands 20% Fee to Let Cargo Through Strait of Hormuz
President Donald Trump says the US will reinstate a blockade of the Strait of Hormuz and impose a 20% fee “on all cargo shipped” to help pay for it. “The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran,” Trump wrote on Truth Social on Monday morning. “We are reinstating the THE…
OpenAI Employees Defend Sam Altman’s Openness to Feedback
OpenAI employees are coming out in support of their CEO, saying that, yes, he’s actually very receptive to critical feedback. Eric Mitchell, who co-leads OpenAI’s Post-training Frontiers team, wrote that there were multiple times when he “directly disagreed with, corrected, or expressed frustration with leadership to Sam.” “Sam always responded with curiosity, open-mindedness, and even…
Waller says forward guidance still valuable despite Warsh shift
The two officials agree on the limits of forward guidance but diverge on how far the retreat should go, a distinction that carries direct consequences for mortgage professionals watching every Fed signal for clues about rate direction. “I continue to believe that forward guidance can be a valuable tool that has, at times, significantly strengthened policymaking…
