Average rate on 30-year mortgage falls again, dips to lowest level in almost a year
Mortgage rates have been mostly declining since late July amid expectations that Federal Reserve would cut rates for the first time since last year.
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Federal Reserve cuts key rate by quarter-point, signals two more cuts this year
The move is the Fed’s first cut since December and lowered its short-term rate to about 4.1%, down from 4.3%. The central bank’s focus has shifted quickly from inflation to jobs, as hiring has ground nearly to a halt in recent months
Paper checks going away soon for Social Security, most federal payments
The government estimates the move will save millions of dollars a year because electronic payments are much more cost-efficient.
Fed faces economic uncertainty, political pressure as it decides whether to cut rates
At this week’s Federal Reserve meeting, the decision it will make on interest rates—usually the main event—is just one of the key unknowns to be resolved when officials gather Tuesday and Wednesday.
Trump says US should do away with quarterly earnings reports
The Securities and Exchange Commission has required publicly traded companies to report on a quarterly basis since 1970.
City to consider $18M bailout loan to keep delayed Gold Building redevelopment afloat
The Gold Building conversion at 151 N. Delaware St. is expected to replace 400,000 square feet of office space with more than 350 apartments and nearly 8,000 square feet of ground-floor retail.
First Internet Bank selling $869M loan portfolio
First Internet has never sold off such a large pool of loans in a single transaction, according to Chief Operating Officer Nicole Lorch.
Average rate on a 30-year mortgage falls to lowest level in nearly a year
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell.
Buy-now-pay-later company Klarna goes public in largest IPO of 2025
Klarna sold 34.3 million shares to investors at $40 a share late Tuesday. That’s above the forecasted range of $35 to $37 a share and values the company at more than $15 billion.
PNC to expand westward with $4.1B acquisition of FirstBank
PNC has been on an acquisition streak in the last few years to make the bank one of the biggest players in retail banking in the country.
Business owners express optimism amid economic challenges, PNC survey shows
PNC Chief Economist Gus Faucher said business owners nationally and in the Indianapolis area are optimistic about their prospects despite ongoing concerns about inflation and possible recession.
Indiana maintains top mark from major credit-rating agencies
Just 14 states have top marks from the trio of major credit-rating agencies: S&P Global Ratings, Moody’s Investors Service and Fitch Ratings.
Federal Reserve official sues Trump over attempt to fire her
The case could become a turning point for the 112-year old Federal Reserve, which was designed by Congress to be insulated from day-to-day political influence.
Trump says he’s firing Federal Reserve’s Lisa Cook, opening new front in fight for control
President Trump said in a letter posted on his Truth Social platform that he is removing Cook effective immediately because of allegations that she committed mortgage fraud.
To keep up with growing car prices, many borrowers turn to 7-year loans
Six-year loans, at one time considered the upper end of the range, are now the most common, accounting for 36.1% of loans in the second quarter.
Powell signals Fed may cut rates soon even as inflation risks remain
Federal Reserve Chair Jerome Powell opened the door ever so slightly to lowering a key interest rate in the coming months but suggested the central bank will proceed cautiously as it continues to evaluate the impact of tariffs and other policies on the economy.
Consumer groups, debt collectors clash in Indiana medical debt hearing
Testimony on Monday set the stage for an interim committee to find a balance between growing medical debt weighing down Hoosiers and allowing health care providers to collect what’s owed.
A top Federal Reserve official says dour jobs data backs case for 3 rate cuts
The jobs report that arrived last week, only a couple of days after the Fed voted on interest rates, showed that employers hired far fewer workers last month than economists expected.
CEO Cindy Konich stepping down after 41 years at Federal Home Loan Bank
Brendan McGrath, executive vice president and chief risk and compliance officer, will succeed Konich on Oct. 1.
Trump opens the door for private equity, crypto as 401(k) retirement plan options
Millions of Americans saving for retirement could have the option of putting their money in higher-risk investments, according to an executive order signed Thursday by President Donald Trump.