The rate for a 30-year fixed-rate mortgage was 7.24% this week, down from 7.32% last week, according to Freddie Mac. A year ago, the rate was 6.17%. The rate for a 15-year fixed-rate mortgage was 6.6%, down from 6.68% last week. A year ago, the rate was 5.41%.
Persistent investment in AI infrastructure and resilient consumer spending continue to support economic activity.
September PCE data highlights the strength of aggregate demand and the persistence of inflationary pressures, with sustained energy price increases contributing to the acceleration in headline inflation.
Starting next year, the Federal Open Market Committee will hold one less vote annually to set monetary policy, Federal Reserve Chairman Kevin Warsh said.
The Federal Open Market Committee voted to maintain the target range for the federal funds rate at 3.75% to 4%, although two members instead sought an increase.
Any effort by states to modernize insurer data privacy standards should not displace the federal standards already in place for depository institutions, ABA said in a letter to the National Association of Insurance Commissioners.
A coalition of 21 Democratic state attorneys general has filed a lawsuit to reverse the Trump administration’s decision to scale back the scope of beneficial ownership information reporting requirements.
