The rate for a 30-year fixed-rate mortgage was 6.72% this week, down from last week when it was 6.74%, according to Freddie Mac. A year ago, the rate was 6.73%. The rate for a 15-year fixed-rate mortgage was 5.85%, down from last week when it was 5.87%. A year ago, the rate was 5.99%.
The rate for a 30-year fixed-rate mortgage was 6.11% this week. The rate for a 15-year fixed-rate mortgage was 5.5%.
The Senate passed a bipartisan bill seeking to boost housing supply by removing regulatory barriers and creating incentives for communities that build more homes.
Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1.376 million.
A proposal to implement a new policy to help veterans and servicemembers pay their mortgages needs further revision if it is to work as intended, ABA said in a letter to the Department of Veterans Affairs.
A bipartisan group of 14 senators has reintroduced legislation to require the FDIC to “claw back” bank executive pay following a large bank failure.
Bradford National Bank in Greenville, Illinois, has completed its acquisition of State Bank of St. Jacob in St. Jacob, Illinois.
