The rate for a 30-year fixed-rate mortgage was 6.63% this week, down from last week when it averaged 6.76%, according to Freddie Mac. A year ago, the rate was 6.88%. The rate for a 15-year fixed-rate mortgage was 5.79%, down from last week when it averaged 5.94%. A year ago, the rate was 6.22%.
The recent announcement that Fannie Mae and Freddie Mac will expand credit scoring options for mortgages is a promising first step in creating a scoring system to better serve creditworthy Americans, but there remain several questions about how...
With the Trump administration announcing a 50% tariff on copper imports starting August 1, copper futures prices surged in response.
The FDIC released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Texas recently affected by severe storms and flooding.
Differences between regulations for banks and those for nonbank financial intermediaries may have created incentives to shift business activities to the NBFI sector, so bank supervisors should apply “close scrutiny” to such interactions, according to the report.
HUD eliminated several of the core policies adopted by the Property Appraisal and Valuation Equity task force, an interagency group of 13 federal agencies formed during the Biden administration to address alleged discrimination in the appraisal process.
ABA will donate $10,000 to Texas Bankers Foundation to assist with immediate disaster response and recovery following the recent catastrophic flooding in Central Texas.
