The rate for a 30-year fixed-rate mortgage was 6.30% this week, down from 6.37% last week, according to Freddie Mac. A year ago, the rate was 6.83%. The rate for a 15-year fixed-rate mortgage was 5.65%, down from 5.74% last week. A year ago, the rate was 6.03%.
Industrial production dropped 0.5% in March from the previous month, the Federal Reserve reported. The March figure was up 2.4% from a year prior.
A recent study of more than 150 years of U.S. bank data has concluded that weak fundamentals are the primary driver of bank failures, and that strong banks usually survive runs.
The eleven Democratic members of the Senate Banking Committee called for the committee to delay the nomination hearing for Kevin Warsh to be Federal Reserve chairman until the Trump administration drops its investigations into current Chairman Jerome Powell...
The Fair Credit Reporting Act is a critical consumer protection law that supports responsible lending, and policymakers should avoid changes that could restrict credit availability by reducing data accuracy or adding complexity, banker Veneshia Ferdinand told House lawmakers...
ABA recently welcomed two new executive orders directing federal regulators to roll back or better tailor mortgage regulations to expand access to credit and promote new housing construction.
The OCC has terminated the lease on the CFPB’s headquarters six years early, according to government records obtained by Reuters news agency.
