Daily Dose

With many institutions still designated as "systemically important" or "too big to fail" even seven years after the financial crisis, a subcommittee of the Senate Banking Committee convened for a hearing on Wednesday to discuss ways in which bankruptcy reform could end "too big to fail."

Loosening credit standards, demographics, pent-up demand, and attractive affordability and housing valuations are on track to promote a healthier housing market for the rest of 2015 in the homebuilding and construction sectors, according to an analysis from Fitch Ratings released Wednesday.

Although Federal Reserve officials determined that economic activity is expanding moderately, the housing sector has shown additional improvement, and job gains have been solid with declining unemployment, the federal funds rate will remain the same at a target range of 0 to 1/4 percent, according to the Federal Open Market Committee July meeting.

Many housing markets are still finding their footing following the unforgettable financial crisis and housing market collapse. Recent data from WalletHub found that the housing market is a major driver of economic growth within major cities.

For the first time in 2015, pending home sales declined in June, slowing momentum in the height of the homebuying summer season.

On Tuesday, the Consumer Financial Protection Bureau announced an enforcement action taken against Paymap Inc. for deceptive advertisement practices used to market a mortgage payment program.

The second in a series of three full Committee hearings examining the impact of the Dodd-Frank Act on American prosperity, freedom, and financial stability five years after the controversial law was enacted took place in the House Financial Services Committee on Tuesday.

Recent survey data from Fannie Mae's Economic & Strategic Research group found that many mortgage lenders are still applying credit overlays that are stricter than what Freddie Mac, Fannie Mae, or Ginnie Mae require.

According to a report released Tuesday by the Department of Commerce's Census Bureau, this quarter's homeownership rate is the lowest since 1967 and the rate has been on a steady downward fall since 2009 when the rate was 67.4 percent for the second quarter.

S&P Dow Jones Indices released the results for their S&P/Case-Shiller Home Price Indices on Tuesday, finding that U.S. home prices continued to increase across the country over the last year.