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%.
Preliminary results show consumer sentiment decreased 1.2 points in October to 68.9, up 5.1 points from one year ago.
The Producer Price Index for final demand remained unchanged in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices edged up 0.2% in August and were unchanged in July.
Credit unions and other nonbanks should be subject to the same regulatory and supervisory expectations as banks if they are engaged in the same activities, Federal Reserve Governor Michelle Bowman said.
The CDFI Fund announced an agreement to issue three guarantees worth $498 million under the CDFI Bond Guarantee Program, the largest amount in the program's history.
Report provides insights, strategies and recommendations for financial institutions navigating the migration to the ISO 20022 standard for electronic data interchange between institutions.
By John Vermillion In the constantly evolving world of financial products, there has been a notable increase in collateralized mortgage obligations issuance over the past few years. CMO issuance has experienced considerable fluctuations since 2019, with a noticeable...
