Mortgage Rates Fall Again To Hit Four-Month Low
WASHINGTON-Rates on home loans dropped again last week to their lowest in four months, according to Freddie Mac.
The average for the benchmark 30-year, fixed-rate loan declined to 4.13% from 4.28% last week; while the average for a 15-year mortgage slipped to 3.24% from 3.33%.
Both averages are the lowest since June 20.
ARM rates also moved lower, with the average for the five-year ARM slipping to 3.00% from 3.07%; and the average for the one-year ARM inching down to 2.60% from 2.63%.
NCUA Will Switch To CAMEL For Corporates
ALEXANDRIA, Va.-NCUA said it will begin rating corporate credit unions, as it does natural person credit unions, using the CAMEL code starting Jan. 1.
The CAMEL system will replace the current Corporate Risk Information System, or CRIS, which NCUA has used since 1999.
CAMEL is a rating that is based on capital adequacy, assets, management capability, earnings and liquidity. Ratings are given from one (best) to five (worst) in each category, as well as a composite of all five.
Top 3 CUs Make The Nat'l Co-op Top 100 Rankings
WASHINGTON-The nation's three largest credit unions made it onto the National Cooperative Bank's annual NCB Co-op 100 list, which ranks the top performing cooperatives in the U.S.
Navy FCU, Vienna, Va., took the 12th spot on the list. The $54 billion credit union was ranked 14th the previous year. The $27 billion State Employees CU, Raleigh, N.C., was ranked 60th, slipping down from the 52nd spot the previous year. Alexandria, Va.-based Pentagon FCU came in at No. 87. The $16 billion CU was down from 77.
