McLEAN, Va. - (05/16/05) -- Long-term mortgage rates inched uplast week, after falling the previous five weeks, according toFreddie Mac. Still, the rates continued near record lows,contributing to large volumes of new mortgages. "According to theMortgage Bankers Association, purchase applications hit a recordhigh last week, and this can be directly attributed to continuinglow mortgage rates," said Frank Nothaft, chief economist forFreddie Mac The average for the benchmark 30-year, fixed-rate loanrose slightly to 5.77%, from 5.75 the week before; while theaverage for the 15-year, fixed-rate mortgage moved to 5.33, from5.31%. ARM rates also moved upwards, with the average for thefive-year ARM climbing to 5.21% this week, from 5.16% last week;and the one-year ARM average inching up to 4.23%, from4.22%.
-
The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.
2h ago -
Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
10h ago -
Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes. The move adds a new wrinkle to Discover's pending sale, though Discover said that Rhodes hadn't been expected to have a long-term role at Capital One following the merger's completion.
March 27 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27 -
A panel at CBA Live explored the contract provisions banks need to consider before embarking on new banking-as-a-service relationships and what catches their eyes in consent orders from banking regulators.
March 27