Fannie Mae today reported a $1.1 billion profit for the first quarter of 2016, following a $2.5 billion gain in the previous quarter. The decrease in profit was largely attributed to fair value losses as a result of decreased longer-term interest rates, offset by credit-related income. Freddie Mac earlier this week reported a loss for the first quarter.
Survey requires private employers with 100 or more employees and federal contractors with 50 or more employees to submit data on employees’ gender, race and ethnicity annually to the EEOC.
The rate for a 30-year fixed-rate mortgage was 6.86% this week. The rate for a 15-year fixed-rate mortgage was 6.01%.
Existing home sales slid 0.5% in April to a seasonally adjusted annual rate of 4 million, the National Association of Realtors reported. Sales dropped 2% from a year ago.
The House narrowly passed a reconciliation budget package with several tax provisions supported by ABA. The legislation next heads to the Senate.
The House Financial Services Committee advanced nine bills supported by ABA, covering issues ranging from bank merger applications to regulatory tailoring.
A proposed amendment to add a credit card rate cap to an unrelated bill on stablecoin regulation would devastate credit access for millions of consumers and small businesses, the ABA and 52 state bankers associations said.
