Mortgage rates drop slightly

The Securities and Exchange Commission and the Commodity Futures Trading Commission announced that they have agreed to coordinate oversight and promote regulatory clarity in areas of common regulatory interest, such as cryptocurrencies.

Federal Reserve Vice Chair for Supervision Michelle Bowman previewed a series of proposed bank capital reforms she said would reduce capital requirements for large banks by a small amount and result in “slightly larger” reductions for smaller banks.

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.