McLEAN, Va. -- After a brief respite, mortgage rates began to climb again this week, back to their highest level since the spring of 2002, Freddie Mac reported Thursday. The average for the benchmark 30-year, fixed-rate loan rose to 6.84% this week, from 6.74% last week; while the average for the 15-year, fixed-rate mortgage moved to 6.41%, from 6.37%. ARM rates also moved higher, with the average for the one-year ARM rising to 5.80%, from 5.75% last week; and the average for the five-year ARM inching up to 6.36%, from 6.33%.
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The group behind the proposed Georgia Skyline Bank says recapitalizing a 24-year-old Virginia bank offers a faster path to success than a new charter would.
September 4 -
IDScan.net removed the pages naming its bank and credit union integrations after KrebsOnSecurity traced 153 million license scans to the company.
September 4 -
A consortium of international FIs are planning to issue a U.S. stablecoin in early 2027; London-based OpenPayd has entered the U.S. through its acquisition of MSB USA; the U.K. fined Citi £4.7 million ($6.3 million) for hundreds of transactions in breach of sanctions against Russia; and more in this week's banking news roundup.
September 4 -
The controlling owner of Santa Fe-based Century Financial Services Corp. wound up in bankruptcy court. Now his 71% stake is on the verge of being sold to an Oklahoma bank.
September 4 -
Swift's network of 11,500 banks can exchange deposit tokens in a standardized way.
September 4 -
The big three's trade group has said they operate legally and protect the industry with a trio of reports. FHFA also is opening up VantageScore for all lenders.
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