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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A housing bill that already passed the Senate cleared the House Monday evening, but included bipartisan community banking provisions that have already raised objections in the upper chamber.
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The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.
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