The rate for a 30-year fixed-rate mortgage was 6.19% this week, down from 6.27% last week, according to Freddie Mac. A year ago, the rate was 6.54%. The rate for a 15-year fixed-rate mortgage was 5.44%, down from 5.52% last week. A year ago, the rate was 5.71%.
The Federal Reserve and FDIC released the public sections of resolution plans for 15 large banks, including five domestic and 10 foreign banks.
More than 100 Republican lawmakers have signed a letter requesting the Trump administration continue to carry out the statutory obligations of the CDFI Fund, which administration officials have proposed eliminating.
FinCEN has identified approximately $9 billion of potential Iranian shadow banking activity that occurred through U.S. correspondent accounts in 2024, according to an agency analysis of reports from U.S. financial institutions.
Existing home sales increased 1.5% in September to a seasonally adjusted annual rate of 4.06 million. Year-over-year, sales increased 4.1%.
Federal Reserve Governor Michael Barr praised the work of community development financial institutions and the CDFI Fund, saying it is staffed with people “whose dedication to expanding economic opportunity was truly inspiring.”
Banks announce proposed acquisitions of financial institutions in Ohio, Texas and Illinois.
