The rate for a 30-year fixed-rate mortgage averaged 6.49% this week, up slightly from last week when it averaged 6.47%. A year ago, the 30-year rate was 7.09%. The rate for a 15-year fixed-rate mortgage averaged 5.66%, up from last week when it averaged 5.63%. A year ago, the rate was 6.46%.
President Trump rescinded a 2023 executive order directing federal agencies to possibly draft new rules governing the use of AI and a 2021 order seeking more disclosure of financial risks linked to climate change.
Investigating what is ahead for banks across multiple topics.
Travis Hill will be acting FDIC chairman; David Lebryk will lead Treasury until Scott Bessent's confirmation.
Illinois regulators closed Pulaski Savings Bank of Chicago and appointed the FDIC as receiver. Millennium Bank of Des Plaines, Illinois, agreed to assume all deposits and most of its assets.
The FDIC sued 17 former executives and directors of Silicon Valley Bank, alleging their gross negligence led to the collapse of the institution.
The U.S. government will begin using “extraordinary measures” on Tuesday, Jan. 21, to avoid hitting the debt limit, outgoing Treasury Secretary Janet Yellen said today in a letter to House Speaker Mike Johnson.
