1 in 10 mortgage applicants opt for ARMs as rates hit highest level in two years

The U.S. housing economy has turned from “stagnation to contraction” at the midpoint of 2026, according to analysts at Fitch Ratings, who shared their outlooks on prevailing market conditions in a webinar livestreamed Friday. “Housing has been weak for a while,” said Olu Sonola, head of U.S. economic research for the ratings firm. Sonola flagged…

Prime Minister Mark Carney declined to characterise the development as a done deal. “Substantial progress has been made, although there is important work still to be done,” his office said in a statement Wednesday. Canada-US Trade Minister Dominic LeBlanc returned to Washington early that morning alongside Canada’s chief trade negotiator, Janice Charette, for a second round…

The Dallas Cowboys want to duplicate the success of their $2B mixed-use headquarters development in Frisco with a new sports and entertainment district around the team’s home stadium.  Wikimedia Commons/Michael Barera AT&T Stadium in Arlington Cowboys Chief Operating Officer Stephen Jones said the team intends to develop the land around the 3M SF AT&T Stadium…

The Allahabad High Court quashed income tax reassessment proceedings against a deceased person, holding that a notice issued after a taxpayer’s death is invalid from its inception and cannot be made valid later by replacing the deceased with a legal heir.   A division bench of Justices Shekhar B Saraf and Abdhesh Kumar Chaudhary…

Hakeem Jeffries, Minority Leader of the U.S. House of Representatives speaks during the CNBC CEO Council Summit in Washington D.C. on June 2, 2026. Aaron Clamage | CNBC Democratic House leader Hakeem Jeffries met with President Donald Trump‘s son-in-law Jared Kushner in recent weeks, signalling people close to the president may be preparing for at…

An analysis of inflation-adjusted price-to-rent ratios found houses across the nation’s capitals were overvalued, with Brisbane holding the top spot at 61 per cent. The analysis by AMP chief economist and head of investment Shane Oliver found that across the capital cities, houses have been overvalued by an average of 38 per cent. You’re out…