McLEAN, Va. – Both long- and short-term mortgage rates ticked upwards this week, after declining the past three weeks, according to Freddie Mac.
The average for the 30-year, fixed-rate mortgage rose to 6.11% this week, from 5.96% last week; while the average for the 15-year, fixed-rate loan climbed to 5.78%, from 5.65%.
The average for the five-year ARM moved to 5.89%, from 5.75% last week; while the average for the one-year ARM rose to 5.50%, from 5.46%.
While bankers generally seem to support a draft rule that would make larger companies eligible for SBA loans, smaller firms and Democratic lawmakers have panned the proposal.
Even as it also spends big on AI, Bank of America is sending a clear signal that human workers will still play an important role in tomorrow's workforce.
Sixteen percent of consumers took out a buy now/pay later loan in 2025, according to the Federal Reserve, as more low-income consumers turn to the short-term installment loans for everyday expenses such as groceries. That's creating a blind spot for banks that underwrite consumer credit.
Payment firms that also lend money said the Iran war, Canada trade war and other tariffs were already pressuring small businesses. Here's what some lenders are trying to do about it.
Scott Powell, who was hired by CEO Charlie Scharf to help fix the bank's regulatory problems, is moving into the chief risk officer role.
Federal banking agencies spent the year putting agentic AI outside their guidance. The attorneys general want Congress to move the opposite way.
