Lending

Credit union industry economist says the report "reframes" thinking about the momentum of the economy.

The second quarter shows a big gain in first mortgage originations and a solid gain for consumer lending.

Mortgage Bankers Association finds originations grew more than 7% last year, while HMDA data shows production rose more than 9% among a sample of credit unions.

The Federal Housing Finance Agency says lenders now need only provide one credit score, not two, for GSE loans.

Mortgage Bankers Association also sees weaker economic growth and slower gains in home sales.

Chances of a recession by the end of 2026 are 40%, down from 60% in its April forecast.