The rate for a 30-year fixed-rate mortgage was 6.72% this week, up from last week when it averaged 6.6%, according to Freddie Mac. A year ago, the rate was 6.67%. The rate for a 15-year fixed-rate mortgage was 5.92%, up from last week when it averaged 5.84%. A year ago, the rate was 5.95%.
In challenging times, sharing information about support programs resonates with vulnerable consumers, according to a survey of bank customers.
Existing home sales increased 4.8% in November to a seasonally adjusted annual rate of 4.15 million, the National Association of Realtors reported. Sales rose 6.1% from a year ago.
Real gross domestic product increased at an annual rate of 3.1% in the third quarter of 2024, according to the Commerce Department’s third estimate.
The Treasury Department released a report with recommendations on potential next steps for regulators and the private sector on the use of artificial intelligence in financial services.
The Federal Reserve and FDIC announced the updated Community Reinvestment Act "small bank" and "intermediate small bank" asset-size thresholds for 2025.
ABA and 54 state bankers associations criticized the leaders of the Senate Judiciary Committee for failing to include any representatives from banks or credit card issuers during a hearing last month on credit card competition.
