McLEAN, Va. - (03/04/05) -- Long-term mortgage rates rose againthis week, for the third week in a row, after a six-week period ofdeclines, according to Freddie Mac. The average for the benchmark30-year, fixed-rate loan moved up to 5.79% this week, from 5.69%last week; while the average for the 15-year, fixed-rate mortgageincreased to 5.33%, from 5.22. ARM rates were mixed, with theaverage for the five-year hybrid ARM moving up to 5.17%, from 5.05%last week; and one-year ARM rates inching down to 4.14%, from4.16%.
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To address a budget deficit, the state of Washington has begun taxing credit unions that buy banks. Critics say there's just one problem: The tax will deter any such acquisitions from happening.
4h ago -
Kohler Credit Union, Think Bank and Communication Federal Credit Union gave their onboarding and direct deposit tech an upgrade through fintech partnerships.
4h ago -
Some distressed companies that tapped the Federal Reserve's Main Street Lending Program say they've been crushed by the agency's hardline stance on modifications.
5h ago -
Threat group ShinyHunters claimed responsibility for the attack, which reportedly targeted third-party platforms rather than Betterment's own systems.
February 6 -
Artificial intelligence developments are stoking investor fears about software companies. Banks' limited exposure to the sector and general stability is proving attractive to investors.
February 6 -
Prosperity Bancshares finalizes the second of three acquisitions it's announced since July; Sumitomo Mitsui Banking Corporation appoints a new chief information security officer for its American operations; Huntington Bancshares, Third Coast Bancshares and Heritage Financial completed acquisitions; and more in this week's banking news roundup.
February 6





