McLEAN, Va. - (08/27/04) -- Long-term mortgage rates inched upslightly this week, as the housing boom showed signs of easing,according to Freddie Mac. The average for the benchmark 30-year,fixed-rate loan moved to 5.82%, form 5.81% last week; while theaverage for the 15-year, fixed-rate mortgage moved edged up to5.21%, from 5.19%. The average for he one-year ARM rose to 4.05%,from 4.01%. Frank Nothaft, chief economist for Freddie Mac, notedthat new-home sales fell in July from a record pace in June butsaid housing remains on track for a strong year.
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Strong loan and deposit growth led to a double-digit increase in revenues and an even bigger jump in profits at the Columbus, Ohio-based regional bank.
October 17 -
Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.
October 17 -
In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.
October 17 -
Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
October 17 -
Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
October 17 -
Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
October 17