The rate for a 30-year fixed-rate mortgage averaged 6.46% this week, down slightly from last week when it averaged 6.49%. A year ago, the 30-year rate was 7.23%. The rate for a 15-year fixed-rate mortgage averaged 5.62%, down from last week when it averaged 5.66%. A year ago, the rate was 6.55%.
The OCC said that it expects that only those bank offices directly affected by potentially unsafe conditions will close and should make every effort to reopen as quickly as possible.
The need for small-business owners to make long-term plans is reinforced by their day-to-day worries. Respondents reported top economic stressors as the economic environment; inflation and increased costs; competition; fraud or cybersecurity threats; and obtaining funding to support...
The report includes a summary of the overall consumer compliance performance for FDIC-supervised institutions in 2024, a description of the most frequently cited violations, and an overview of consumer complaint trends. The last report was issued in spring 2024.
Included in the bill were several ABA-supported tax provisions related to banks, including a modified version of the ABA-advocated ACRE Act and the permanent extension of the Section 199A pass-through deduction rate of 20%.
New orders for manufactured goods in May, up five of the last six months, increased $48.5 billion or 8.2% to $642.0 billion, the U.S. Census Bureau reported today. This followed a 3.9% April decrease. New orders for manufactured...
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $71.5 billion in May, up $11.3 billion from $60.3 billion in April, revised. The May increase in the...
