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Financial Oversight Reform• See most recent articles: President Obama signs into law historic Wall Street reform that includes a new credit industry overseer to protect consumers. See reform highlights.• Credit Card Reform: See overview of new law's main provisions. • Student Loans: More college aid, easier terms for graduates. |
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Mortgage Rates Set New Lows for 10th Time: 30-Year at 4.32%
Despite prices of Treasury bonds pulling back somewhat in recent days, mortgage rates continued their historic slide this week, setting record lows for the 10th ...
Banks Finally Start to Ease Lending Standards, Fed Reports
Although modestly, big banks are starting to ease lending standards, particularly in the vital sector of commercial and industrial loans to small businesses, according to a ...
FTC Rule Bans Upfront Fees on Some Debt Relief Services
A new telemarketing sales rule prohibits for-profit companies that sell debt relief services over the telephone from charging an upfront free, according to the Federal ...
Obama: Reform Ends Era of ‘Bad Loans’ That Fueled Crisis
Wall Street Reform was signed into law today by President Obama, promising an end to taxpayer-funded bailouts and a new consumer financial protection agency that ...
Properties Hit with Foreclosure Filings on Record Pace: RealtyTrac
Through the first six months of 2010, foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 1,654,634 U.S. properties, ...
Fed Caps Credit Card Penalty Fees at $25 for Non-Repeat Offenders
As part of the final phase of credit card reform, the Federal Reserve today capped penalty fees at $25 per violation, unless the card holder ...
Will Consumers Win with Regulated Debit Card ‘Swipe’ Fees?
After years of attempting to even get a bill on the floor of Congress, business groups finally saw enough support to draw a bipartisan vote ...
Senate Bans ‘No Doc’ Loans, Kickbacks in Mortgage Practices
The Senate has approved new rules overhauling some mortgage lending practices which contributed to the housing market meltdown, including banning lender kickbacks to brokers for originating high-cost ...
Senate OKs Landmark Powers to Dismantle Failing Firms
In its first unified front on a Wall Street reform proposal, the Senate today approved 93-5 an amendment that outlines the orderly liquidation of large, ...
Tax Credits & Surging Home Sales: What Happens After April 30?
The major housing indicators agree that the homebuyer tax credits – extended and expanded late last year – finally kicked in last month as new home sales ...
932,234 Properties: Foreclosure Filings Set New Highs in 1st Quarter
Foreclosure actions set too many records in the first quarter – the highest monthly total in March and the highest quarterly number for bank repossessions, or ...
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Latest News & Financial Reform
Mortgage Rates Set New Lows for 10th Time: 30-Year at 4.32%
Despite prices of Treasury bonds pulling back somewhat in recent days, mortgage rates continued...
Pending Home Sales Register Surprise Jump in July: NAR
Pending home sales of existing homes unexpectedly jumped 5.2 percent in July based on the forward-looking...
Record Low Rates Lift Mortgage Refinancing to 15-Month High
Mortgage refinancing activity has bounced back to a 15-month high as borrowers are taking advantage...
FDIC: ‘Problem’ List Grows – But Earnings Up, Charge-offs Down
Insured banking institutions reported earnings of $21.6 billion in the second quarter of 2010,...
Discover: Small Business Confidence Plummets in August
Small business confidence dropped sharply on Discover’s national index in August, with 62...
Group Urges More Principal Reductions as Foreclosures Outpace Fixes
The increased use of loan modifications resulting in lower payments has created more “sustainable”...
Mortgage Fixed Rates Still Setting New Lows: 30-Year at 4.36%
Long-term mortgage rates continued their historic slide this week, with the 30-year fixed rate...
Sales of Existing Single-Family Homes Plunge to 1995 Level
Sales of existing homes plummeted 27 percent in July to a seasonally adjusted rate of 3.83...
Read More Posts From This Category
Consumer & Credit Trends
Average Credit Card Debt Down to 8-Year Low: Below $5,000
Credit card delinquencies – payments overdue at least 90 days – fell again in the second...
U.S. Bankruptcies Jump to Highest Level Since 2005
Consumer and business bankruptcy filings rose 20 percent in the 12-month period ending June...
Mortgage Delinquencies Still High at 6.67% in Q2: TransUnion
Mortgage delinquencies – borrowers 60 or more days past due – posted a 14.8 percent increase...
Lowest Interest Rates Fail to Spark Mortgage Applications
A key index that measured mortgage applications last week was essentially unchanged, only nudging...
Report: 21.5% of U.S. Homeowners with ‘Underwater’ Mortgages
The percentage of U.S. homeowners in negative equity, or with “underwater” mortgages, slipped...
30-Year Mortgage Sets Record Low at 4.49%; 15-Year at 3.95%
Fixed-rate mortgages set new lows for the 7th week in a row, with the 30-year at 4.49 percent...
Discover Reduces Lowest Eligible Student Loan Rate
Discover Student Loans, a division of the financial services more widely known for its credit...
Pending Home Sales Slip Again in Post-Tax Credit Slump
Signed contracts to purchase homes dropped again in June, setting a new low for a key, forward-looking...
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Latest on Financial System Reform
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Mortgage Rates
Rates 9/2 8/26 30-Year Fixed 4.32 
4.36 15-Year Fixed 3.83 3.86 1-Year ARM 3.50 3.52 Source: Freddie Mac
See Articles on Foreclosure Crisis
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U.S. Consumer Credit
* Consumer credit not secured by real estate;*(in billions)
June '10 May '10 April '10 Revolving Credit
(Credit cards)
Average Rate
$826.5
(-6.5%)
na$831
(-10.2%)
14.48%
$838.1
(-11.8%)
na
Non-Revolving Credit
(Car loans, others)
**Average 4-Year Rate$1,592
(+2.4%)
na$1,588.8
(+1.4%)
6.26%$1,587
(-3.5%)
na
**48-month new car loans.
Source: Federal Reserve -
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