McLEAN, Va. - (06/16/06) Long-term mortgage rates roseslightly this week and the financial markets became more convincedthe Federal Reserve will lift short-term rates again next week. Theaverage for the 30-year, fixed-rate loan tipped up to 6.63% thisweek, from 6.62% last week; while the average for the 15-year,fixed-rate rose to 6.25%, from 6.23%, according to Freddie Mac. ARMrates also ticked up, with the one-year ARM average moving to 5.66%this week, from 5.63% last week; and the five-year ARM averagegoing to 6.23%, from 6.20%.
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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