McLEAN, Va. -
The average for the 30-year, fixed-rate mortgage fell from 5.87% to 5.69%–its lowest since July 14, 2005; while the average for the 15-year, fixed-rate mortgage fell from 5.43% to 5.21%. The one-year ARM rate also moved down from 5.37% to 5.26%, making it the first time in seven years the rate for the one-year ARM was higher than that for a 15-year loan, according to Frank Nothaft, chief economist for Freddie Mac. Five-year ARM averages also moved lower, from 5.63%, to 5.40%.
Gas prices are rising as a large swath of consumers are already under pressure, which could eventually affect demand for credit.
The share of American households considered "financially vulnerable" rose to 17%, the highest level since at least 2018, according to the nonprofit Financial Health Network.
The bank was determined, by multiple industry rankings and experts, to be the best mobile banking provider in the U.S.. Bank of America took second place.
Succession planning experts say that the possible next generation of RIA owners need clear communication, tangible career paths and thoughtful compensation plans. But that is often easier said than done.
The move came 12 days after Canada's bank regulator said tokenized deposits are not legally distinct from ordinary deposits.
Bank of America, Capital One and other large banks have teamed up to publish a set of principles for agentic commerce. But the call for a set of standards from banks comes as other fintechs and payment companies are already forging ahead with the technology.
