McLEAN, Va. -- Mortgage rates dipped slightly this week, with the average for the benchmark 30-year, fixed-rate mortgage falling to 6.72%, from 6.80%, according to Freddie Mac. The average for the 15-year, fixed-rate loan also slipped to 6.34%, from 6.41% last week. ARM rates also declined slightly, with the average for the one-year ARM moving down to 5.78% this week, from 5.80% last week; and the average for the five-year ARM hitting 6.35%, compared to 6.36% last week. "Mortgage rates drifted lower this week in indications that economic growth is moderating, inflation remains under control and the Fed just may pause raising rates for awhile," said Frank Nothaft, chief economist at the secondary mortgage market giant.
-
Isabel Casillas Guzman, administrator of the Small Business Administration, wants the agency to get involved in direct lending, a practice that was discontinued during the Clinton administration. Congress has not embraced the idea, to put it mildly.
4h ago -
GLS had already stopped issuing first-use plastic as of 2018, but it wasn't enough for the eco-minded German bank. Fake plastic still looks and feels like plastic.
4h ago -
The top five banks and thrifts have combined deposits of more than $7.5 trillion.
8h ago -
The Federal Deposit Insurance Corp. is arguing that Colorado has the right to establish an interest rate cap that all state-chartered banks must follow. Three industry groups are suing the state in an effort to stop its attempted crackdown.
April 28 -
The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
April 26 -
The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.
April 26