The rate for a 30-year fixed-rate mortgage averaged 6.88% this week, up from last week when it averaged 6.82%. A year ago, the 30-year rate was 6.27%. The rate for a 15-year fixed-rate mortgage averaged 6.16%, up from last week when it averaged 6.06%. A year ago, the rate was 5.54%.
FinCEN has extended by more than a month the effective dates for orders involving three Mexico-based financial institutions with alleged ties to fentanyl trafficking, according to an agency statement.
The FDIC board will hold an open meeting next week to consider several agenda items, including proposals on regulatory thresholds, the Community Reinvestment Act and bank branches.
Federal Open Market Committee members remain somewhat split on the long-term effects of the Trump administration’s tariff policy on inflation, according to the minutes.
Fannie Mae and Freddie Mac will allow lenders the option to use VantageScore 4.0 while still allowing use of FICO to assess the creditworthiness of mortgages, FHFA Director Bill Pulte announced on a post on X.
Consumer credit increased at a seasonally adjusted annual rate of 1.2% in May, the Federal Reserve reported.
The U.S. Attorney’s Office for the Western District of Texas “is on alert” for fraudsters seeking to exploit individuals and businesses following the recent deadly floods in Texas, according to the U.S. Department of Justice.
