The rate for a 30-year fixed-rate mortgage was 6.89% this week, down from last week when it averaged 6.95%, according to Freddie Mac. A year ago, the rate was 6.64%. The rate for a 15-year fixed-rate mortgage was 6.05%, down from last week when it averaged 6.12%. A year ago, the rate was 5.9%.
The Producer Price Index was unchanged in June from the previous month, the Labor Department reported. The index showed prices increased 2.3% in June from a year before.
Industrial production (IP) rose 0.3% in June after remaining unchanged in April and May. For the second quarter as a whole, IP increased at an annual rate of 1.1%.
The Producer Price Index for final demand was unchanged in June, seasonally adjusted. On an unadjusted basis, the index for final demand rose 2.3% for the 12 months ended in June.
Huntington Bancshares, First Community and Civista Bancshares announce planned acquisitions in Texas, Georgia and Ohio.
ABA shared several possible reforms for the Dodd-Frank Act as the law approaches the 15th anniversary of its enactment, saying changes are needed to mitigate its burdens on banks of all sizes.
While the version included in the final legislation is modified from ABA’s original ACRE proposal, there remains significant relief for ag and rural communities. Qualified lenders will be able to exclude from gross income 25% of interest income...
