On December 15, 2023, the Financial Stability Oversight Counsel (FSOC) released its 2023 Annual Report. According to the Report:
“The Council was established by the Dodd-Frank Act of 2010 and was charged with the collective responsibility to monitor and promote US financial stability. This annual report summarizes the Council’s assessment of current vulnerabilities across a variety of asset classes, institutions, activities and developments, and the 2023 activities of the Council and member agencies to reduce and respond to risks and lessen vulnerabilities facing the financial system.”
In its discussion of the primary mortgage market, the Council states
“High interest rates coupled with low inventory for sale led to fewer home sales and origination volume. (see figure 220.127.116.11)
Recursion is pleased to be acknowledged by FSOC as a source for trusted data and analytical expertise.