McLEAN, Va. - (01/06/06) -- Home mortgage rates were littlechanged this week, as financing activity slowed in the daysfollowing New Year's, according to Freddie Mac. The average for thebenchmark 30-yea, fixed-rate loans slipped slightly to 6.21% thisweek, from 6.22% last week; while the average for the 15-year,fixed-rate mortgage was unchanged at 5.76%. The average for theone-year ARM rose just slightly to 5.16%, from 5.15%; while theaverage for the five-year ARM slipped to 5.78%, from 5.79%."Financial markets paused this week, trying to decipher theDecember minutes of the Federal Reserve's monetary policycommittee, which seemed to hint that the Fed might slow the pace ofrate hikes in 2006," said Frank Nothaft, chief economist forFreddie Mac. "As a result, mortgage rates were little changed thisweek. Interest rates for 30-year fixed-rate mortgages currently arebelow the monthly averages set in November and December of2005."
-
Gary Farro's testimony focused on both the banking activity of Michael Cohen, a former Trump attorney who paid $130,000 to an adult film actress in 2016, and First Republic Bank's due diligence work.
4h ago -
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.
May 3 -
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