The rate for a 30-year fixed-rate mortgage was 6.91% this week, up from last week when it averaged 6.85%, according to Freddie Mac. A year ago, the rate was 6.62%. The rate for a 15-year fixed-rate mortgage was 6.13%, up from last week when it averaged 6%. A year ago, the rate was 5.89%.
Hotter-than-expected inflation data in April pushed financial markets to sharply revise expectations for Federal Reserve monetary policy.
The OCC finalized two rules to clarify that national banks are exempt from state laws regulating real estate escrow accounts. Both rules were first proposed late last year.
As part of a recent Trump administration push to expand access to mortgage credit, the Federal Housing Administration should modernize its collateral valuation process to align it with the collateral valuation standards established by Fannie Mae and Freddie...
Industrial production increased 0.7% in April after decreasing 0.3% in March. In April, manufacturing output rose 0.6%, the index for mining ticked down 0.1%, and utilities output moved up 1.9%.
The FDIC has updated the Q&As for its signage and advertising requirements to reflect recent changes to the regulation.
The rate for a 30-year fixed-rate mortgage was 6.36% this week. The rate for a 15-year fixed-rate mortgage was 5.71%.
