(RECAP: Wall Street now believes there’s a better chance of a September Fed hike, thanks to a rising benchmark interest rate that some experts believe will influence the central bank. The three-month London Interbank Offered Rate — more commonly known as Libor — is around the highest level it’s been since May 2009. The rate represents how much banks around the world charge each other for small-term loans, and helps determine global rates as well. While Libor had been dwelling below 0.3 percent for more than two years, it started rising a year ago and has been climbing steadily since late 2015. Much of the gain can be attributed to money market regulatory changes happening in October that are pushing on small-term rates. But, there could be more to it. Some experts believe it’s a telltale sign that the Fed could get pushed into hiking rates before it wants to and before much of the market expects it to.)

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(RECAP: New single-family home sales took a notable upturn in July, with the month becoming the best month for new sales since 2007, according to HUD and the U.S. Census Bureau. The HUD/Census report showed that July sales leapt 12.4 percent over June, which recorded 582,000 sales, and 31.3 percent above last July. The median sales price of new houses sold in July was $294,600; the average sales price was $355,800. July’s numbers are the latest in a steady trend toward more new home sales overall, and some industry insiders reckon the trend is only going to continue.)

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(RECAP: Freddie Mac today announced a redesigned standard application for borrowers to use when they apply for a single-family mortgage. The redesigned Uniform Residential Loan Application (URLA) was developed jointly with Fannie Mae under the direction of the FHFA. This marks the first substantial revision to the URLA in more than 20 years. In addition to a reorganized layout and simplified terminology, the new URLA includes data fields such as mobile phone number, email address and military service. Lenders may start using the redesigned URLA on Jan. 1, 2018, for single-family loans submitted to Freddie and Fannie as well as mortgages that are federally insured by FHA, the VA or the Department of Agriculture’s Rural Housing Service.)

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