The rate for a 30-year fixed-rate mortgage averaged 7.1% this week, up from last week when it averaged 6.88%. A year ago, the 30-year rate was 6.39%. The rate for a 15-year fixed-rate mortgage averaged 6.39%, up from last week when it averaged 6.16%. A year ago, the rate was 5.76%.
The CDFI Fund has extended the application deadlines for financial assistance and technical assistance awards to April because of last year’s government shutdown.
ABA joined three other banking associations in requesting that the OCC extend the public comment deadline for a proposed rule to implement payment stablecoin legislation, saying the potential ramifications for banks merited a deliberative approach.
FinCEN issued a new geographic targeting order targeting multiple counties and ZIP codes in four states along the Southwest U.S. border. It replaces an older order that recently expired.
ABA survey found strong consumer support for requiring nonbank fintech companies to follow the same rules as banks, and for protecting local lending from stablecoin risks.
The Small Business Optimism Index for February was 98.8, down 0.5 points from January. The Index remains slightly above its 52-year average of 98 but marks the second consecutive monthly decline. The Uncertainty Index fell 3 points from...
The gain in existing home sales being driven by improved affordability. A pickup in home resale activity should lead to increased mortgage originations, while lower rates could lead to a resurgence in refinancing activity.
