The national average contract mortgage rate was 4.55% for September loans.
October 28, 2010
The average interest rate on conventional, 30-year fixed-rate mortgage loans of $417,000 or less decreased 12 basis points (bp) to 4.58% in September. The average interest rate on 15-year, fixed-rate loans of $417,000 increased 11 bp to 4.57% in September.
Household spending increases gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit.
October 4, 2010
Economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels for the federal funds rate for an extended period.
Six federal agencies published guidance last week designed to ensure all depository institutions are aware of expectations when it comes to deposit reconciliation. CUNA’s compliance explains what it means for credit unions in a recent CompBlog post.
Six financial services organizations have joined the CUNA-created “Stop the Data Breaches” campaign in light of merchants’ efforts to combat CUNA-backed data security legislation. The campaign, at www.stopthedatabreaches.org, utilizes geo-targeted digital and print ads.