McLEAN, Va. - (02/11/05) -- Long-term mortgage rates fell againthis week, for the sixth week in a row, with the average for the30-year loan slipping to its lowest since last April, according toFreddie Mac. The average for the 30-year, fixed-rate mortgage fellto 5.57% this week, from 5.63% last week; while the average for the15-year, fixed-rate loan dipped to 5.10%, from 5.14%. The one-yearARM rate also declined to 4.11% this week, from 4.23%; while theaverage for five-year hybrid ARMs slipped slightly to 4.99%, from5%.
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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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