The rate for a 30-year fixed-rate mortgage was 6.96% this week, down from last week when it averaged 7.04%, according to Freddie Mac. A year ago, the rate was 6.69%. The rate for a 15-year fixed-rate mortgage was 6.16%, down from last week when it averaged 6.27%. A year ago, the rate was 5.96%.
CFPB to initiate new Section 1071 rulemaking
In a court filing, the CFPB said its leadership has directed staff to initiate new rulemaking to implement Section 1071 of the Dodd-Frank Act and plans to soon release a proposal to possibly replace or change its current...