The rate for a 30-year fixed-rate mortgage averaged 4 percent this week, down from last week’s 4.04 percent, Freddie Mac said today. At this time last year, the 30-year FRM rate averaged 4.17 percent. This week’s 15-year FRM rate averaged 3.23 percent, down from last week’s 3.25 percent rate. A year ago, the 15-year FRM rate averaged 3.3 percent.
The total number of mortgage applications and originations “dropped significantly” in 2023, with both falling by roughly a third from the year before, the CFPB said.
ABA and the Consumer Bankers Association urged a New York City agency to withdraw a proposed rule to expand the procedural requirements for creditors collecting debts in their own name.
The Office of Cybersecurity and Critical Infrastructure Protection has released a consumer advisory on avoiding cyber and online scams during the holiday season, including a warning about suspicious texts or emails claiming to come from financial institutions.
By Joseph Pigg With Republican control of the administration and both chambers of Congress taking effect in January, there has been much speculation about what may happen with Fannie Mae, Freddie Mac and the Federal Home Loan Banks,...
ABA joined associations representing bankers and credit unions in filing a lawsuit challenging the CFPB's effective cap on overdraft fees.
The FCC will discontinue its requirement that banks obtain certain types of Weiss safety ratings to be eligible to provide a letter of credit to telecommunications provider recipients of the Rural Digital Opportunity Fund.
