Gold’s value has ballooned by 39% this year, putting it on track for a greater annual price jump than during the depths of the Covid-19 pandemic or 2007-09 recession. Futures for the precious metal haven’t surged so much in a year since 1979.

The average 30-year fixed mortgage rate fell to 6.35%. That’s the lowest level since October and a notable drop from January, when rates were above 7%.

Inflation-adjusted median household income was $83,730 in 2024, not statistically different from the 2023.

PNC Financial Services Group will buy FirstBank Holding Co for $4.1 billion to expand its presence in the West.

Fed Chair Jerome Powell had previously signaled the central bank was on track to cut rates if data suggested that the labor market was slowing. Friday’s report provided a clear sign that payroll growth had downshifted meaningfully since the beginning of the year.

The spate of corporate breakups has spurred a comeback in deal activity. Deal volumes are up 23% in the U.S. year over year. But not all companies are shying away from megamergers: The year’s biggest deal so far was Union Pacific’s $71.5 billion acquisition of fellow railroad Norfolk Southern.

Blackstone closed on $5.5 billion for its latest infrastructure secondaries fund, Strategic Partners Infrastructure IV L.P., and its related committed program vehicles. SP Infrastructure IV is the world’s largest dedicated infrastructure secondaries fund raised to-date.

San Fransisco is still flooded with vacant office space, and many of its buildings are obsolete or in distress. The vacancy rate is 22.8%, down slightly from the record high it hit last year but still more than triple what it was in 2019.

Among hotel properties with commercial mortgage-backed securities debt, the delinquency rate was 6.59% in July — up slightly from the 6.17% posted within the sector in July 2024 but still lower than the 6.9% delinquency rate recorded among retail properties in July 2025 and 11.04% within office real estate that same month.

Sales for New York City’s rent-stabilized multifamily properties with 10 or more units have declined since 2019, when rent laws restricted many owners looking to raise rents on over one million rent-stabilized apartments. Many listings across the city are also staying on the market for weeks longer than what is considered typical, prompting owners to cut prices by 10% on average.