The rate for a 30-year fixed-rate mortgage averaged 7.22% this week, up from last week when it averaged 7.17%. A year ago, the 30-year rate was 6.39%. The rate for a 15-year fixed-rate mortgage averaged 6.47%, up from last week when it averaged 6.44%. A year ago, the rate was 5.76%.
With low housing supply continuing to be a concern, planned conversions of office commercial real estate into residential units are starting to pick up.
The OCC released the first quarter 2025 mortgage metrics report, which showed that 97.6% of first-lien mortgages in the federal banking system were current and performing at the end of the quarter.
The Department of Justice announced it has seized $225.3 million in funds linked to cryptocurrency investment scams. The action marks the largest cryptocurrency seizure in Secret Service history.
Financial institutions filed 4.7 million suspicious activity reports in fiscal year 2024. They filed 20.5 million currency transaction reports during the same time frame.
The Treasury Department is exploring ways to streamline the filing process for suspicious activity reports and currency transaction reports as part of a broader effort to modernize BSA enforcement, Deputy Secretary of the Treasury Michael Faulkender said.
While there was a temporary stall in bank merger activity in early 2025 because of the economic fallout of tariffs and other Trump administration policies, overall quarterly deal announcements have held steady, according to a new analysis by...
