McLEAN, Va. – Long-term mortgage rates declined for the third week in a row, according to Freddie Mac. The average for the 30-year, fixed-rate mortgage dropped to 6.59%, from 6.68% last week; while the average for the 15-year, fixed-rate loan slipped to 6.25%, from 6.32%. ARM rates, however, rose, with the average for the five-year ARM moving to 6.33%, from 6.29% last week; and the average for the one-year ARM climbing to 5.65%, from 5.59%.
Betterment Advisor Solutions, formerly Betterment for Advisors and Betterment Institutional, is changing its platform fees into a tiered rate that begins at 0.20% for advisory practices with less than $10 million in the business, Betterment CEO Sarah Levy says.
The White House's top economist says inflation is already at the Fed's 2% target and suggested that further rate hikes could jeopardize growth.
The New York-based bank says the small-business fintech's cheaper deposits will help reduce its reliance on costly wholesale sources.
The Federal Reserve's Office of Inspector General released a report Monday highlighting weaknesses in how information security incidents are identified and resolved.
Citi is an aggressive customer of and investor in AI companies. Arvind Purushotham, head of Citi Ventures, shares what he's currently looking for.
Zervos has argued that the Federal Reserve's monetary policy is too restrictive and backed Treasury's expanded buybacks of long-term debt.
