McLEAN, Va. - (12/30/04) -- Fixed-rate mortgage rates climbedthis week, but ended the year near five-decade lows, according toFreddie Mac. The average for the 30-year, fixed-rate loan rose to5.81% this week, from 5.75% last week; while the average for the15-year, fixed-rate mortgage moved up to 5.23%, from 5.18%. For allof 2004 the average rate for the 30-year loan was 5.84%, upslightly from last year's 5.83% average, which was the lowest sinceFreddie Mac started keeping track. The benchmark rate was below 6%for final 22 weeks of the year. The average for the one-year ARMalso rose slightly this week to 4.19%, from 4.17% lastweek.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
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