McLEAN, Va. - (05/19/06) -- Long-term mortgage rates tippedupwards again this week, after dipping slightly last week, andreturned to four-year highs, according to Freddie Mac. The averagefor the 30-year, fixed-rate mortgage rose slightly to 6.60% thisweek, from 6.58% last week' while the average for the 15-year,fixed-rate loan moved to 6.20%, from 6.17%. ARM rates werevirtually unchanged, with the five-year ARM average rising a singlebasis point to 6.23% and the one-year ARM average remaining at5.62%. Frank Nothaft, chief economist for Freddie Mac, predictedmore fluctuations in rates. "The current debate is between risinginflation and slower consumer spending. Until the market finds outwhich influence will be the strongest, mortgage rates shouldcontinue to fluctuate as they have the last couple of weeks," hesaid.
-
The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
9m ago -
The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
2h ago -
Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
4h ago -
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
4h ago -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
6h ago -
The state's comptroller of public accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?
6h ago