McLEAN, Va. - (10/22/04) -- Mortgage rates dipped again thisweek, in tandem with Treasury yields, according to Freddie Mac. Theaverage for 30-year, fixed-rate mortgages fell to 5.69% this week,from 5.74% last week; while the average for 15-year, fixed-rateloans slipped to 5.07%, from 5.14%. One-year ARM averages heldsteady at 4.02%, down a basis point from last week. At the sametime, the yield on the benchmark 10-year Treasury note, which helpsdetermine longer-term mortgage rates, dipped this week edged toward3.96%. A drop below this mark would take the yield to territorylast seen in early April.
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The combination of two Pacific Northwest banks was supposed to create a regional powerhouse, but rising deposit costs have stung. CEO Clint Stein says he's "laser-focused" on making Columbia a top performer again.
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A set of panels discussing minority depository institutions and digitization found that cost is a significant challenge to minority depository institutions, especially in the core processing space.
May 3 -
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a 30-page guidebook on managing affiliate risks. The report builds on formal guidance issued last year.
May 3 -
The efforts, which respond to President Biden's October executive order on AI, aim to improve synthetic content detection and improve the trustworthiness of AI models.
May 3 -
Tighter merchant connections between Square and Cash App helped Block produce stronger-than-expected results during the first quarter, while Jack Dorsey said the firm will launch its first remittance product later this year leveraging decentralized finance.
May 3 -
In talks with OCC officials, "it became obvious that we would not gain near-term approval given their recent experience with multifamily and CRE positions," FirstSun CEO Neal Arnold says. The companies announced other revisions to their deal, too.
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