McLEAN, Va. - (05/26/06) -- Long-term mortgage rates movedslightly higher this week, maintaining four-year highs, accordingto Freddie Mac. The average for the 30-year, fixed-rate loan roseto 6.62% this week, from 6.60% last week, while the average for the15-year, fixed-rate mortgage inched up to 6.23%, from 6.20%. ARMrates dipped slightly. The average for the one-year ARM slipped to5.61% this week, from 5.62% last week; while the average for thefive-year ARM dipped to 6.21%, from 6.23%. The rising rates havedampened home sales, according to Frank Nothaft, chief economistfor Freddie Mac. "Total housing starts for April were the weakestsince November 2004, and although new home sales in April were thestrongest this year, the number of homes for sale hit a recordhigh. Meanwhile, existing home sales declined an expected 2%,further evidence of an easing in housing," said Nothaft.
-
The bank is launching KeyVAM, a virtual account management offering it designed with fintech Qolo. Both companies said the nature of the relationship was as important as the technology it produced.
17m ago -
The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.
3h ago -
Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27 -
Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes. The move adds a new wrinkle to Discover's pending sale, though Discover said that Rhodes hadn't been expected to have a long-term role at Capital One following the merger's completion.
March 27 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27