McLEAN, Va. - (03/11/05) -- Long-term mortgage rates increasedagain this week, for the fourth week in a row, according to FreddieMac. The average for the benchmark 30-year, fixed-rate loan climbedto 5.85% this week, from 5.79% last week; while the average for the15-year, fixed-rate mortgage rose to 5.38%, from 5.33%. ARM ratesalso moved upwards, with the average for the five-year hybrid ARMincreasing to 5.22%, from 517% last week; and the average for theone-year ARM moving to 4.24%, from 4.14%.
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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.
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 -
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.
May 3