The rate for a 30-year fixed-rate mortgage was 6.88% this week, down from last week when it averaged 6.94%. A year ago, the rate was 6.73%. The rate for a 15-year fixed-rate mortgage was 6.22%, down from last week when it averaged 6.26%. A year ago, the rate was 5.95%.
The House previously passed a separate version of the bill, meaning the legislation will likely next head to conference committee to work out the differences.
Home prices increased 1.9% in July compared to the same month a year ago, up from a 1.6% rise the previous month, according to the S&P Cotality Case-Shiller Index.
The Consumer Confidence Index was 81.9 in September, down from 88.6 in August, the Conference Board said.
Peoples Bancshares of TN has applied to buy First Peoples Bancorp in Tennessee. Valley National Bancorp in New York has agreed to buy fintech Bluevine.
The Senate passed by unanimous consent a bill to officially end penny production and provide a framework for cash rounding when exact change cannot be provided. The legislation now heads to President Trump.
With consumers seeking out financial advice to cope with rising prices, banks can "proactively intervene and make a difference in their customers’ lives," according to JD Power.
