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30 Yr FRM 3.88% -0.03%
15 Yr FRM 3.19% -0.02%
1 Yr ARM 2.68% 0.01%
5/1 Yr ARM 3.17% 0.01%
30 YR 2.89% -0.01%
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Notice: 'Top News' and 'Fed and Economy Watch', have been combined into a new channel called 'MND Newswire'. Check back daily for the latest housing and economic news.

The new url for MND Newswire is http://www.mortgagenewsdaily.com/news/

Fed's Kohn Says Regulators Must Spur Banks to Lend

Federal Reserve Governor Donald Kohn said that regulators face challenges in trying to stimulate banks to lend money.

Addressing a panel discussion at the Office of Thrift Supervision's National Housing Forum, Kohn said that more bank loans need to resume lending as credit pressures persist.

"The turmoil in the U.S. financial system during the past 16 months has put both channels of financial intermediation under great strain and, in doing so, has produced a significant financial crisis," Kohn said.

Kohn said that the Federal Reserve and other agencies have issued regulatory guidelines to help promote greater bank lending. Kohn added that the incoming U.S. administration will have to improve oversight on bank lending.

By Steve Stecyk and edited by Nancy Girgis
©CEP News Ltd. 2008


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Mortgage Rates:
  • 30 Yr FRM 3.98%
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  • 15 Yr FRM 3.28%
  • |
  • Jumbo 30 Year Fixed 4.17%
MBS Prices:
  • 30YR FNMA 4.5 106-30 (0-01)
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  • 30YR FNMA 5.0 108-19 (0-00)
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  • 30YR FNMA 5.5 110-00 (-0-15)
Recent Housing Data:
  • Mortgage Apps 3.27%
  • |
  • Refinance Index 5.05%
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  • Purchase Index 1.43%

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.98%
  • |
  • 15 Yr FRM 3.28%
  • |
  • Jumbo 30 Year Fixed 4.17%
MBS Prices:
  • 30YR FNMA 4.5 106-30 (0-01)
  • |
  • 30YR FNMA 5.0 108-19 (0-00)
  • |
  • 30YR FNMA 5.5 110-00 (-0-15)
Recent Housing Data:
  • Mortgage Apps 1.90%
  • |
  • Refinance Index 0.38%
  • |
  • Purchase Index 3.71%