Freddie Mac reports mortgage rates are up again. The 30-year fixed-rate mortgage averaged 4.04% this week, up from last week’s 3.99%. A year ago it averaged 4.09%. The 15-year fixed averaged 3.49% up from 3.44%. A year ago it was 3.34%.
The acting director of the Consumer Financial Protection Bureau requested zero dollars in his second-quarter budget request, saying the agency has enough money for now. Mick Mullaney, who was recently appointed by President Trump, said the bureau has a reserve fund of $177 million and will will only need $145 million to fund operations during the second quarter. The prior director, Democrat Richard Cordray, had asked for $217 million in the prior quarter and $86.6 million two quarters ago. Most Republicans opposed the CFPB which was created under President Obama, and Mulvaney appears to have reined in the agency’s investigations since he took over.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
