February 26, 2025
United States:
US Mortgage Rates Decline to 6.88%, Lowest Level This Year
US mortgage rates dropped last week to the lowest level this year, but not enough to spur a rebound lending activity.
The contract rate on a 30-year mortgage declined 5 basis points to 6.88% in the week ended Feb. 21, according to Mortgage Bankers Association data released Wednesday.
Europe:
ECB Seeks to Speed Up Bank Capital Model Approvals, Maijoor Says
A top European Central Bank official said the watchdog is working to speed up its assessments of lenders’ calculations of their financial strength, a step that may improve strained relations with the industry.
The ECB is expanding the range of changes banks can make to internal models without going through the full rigors of the regulator’s approval process, Steven Maijoor, a member of the watchdog’s Supervisory Board, said in an interview in Amsterdam.
Asia:
Xi Urges Officials to Stay Calm as US Raises Pressure on China
Chinese President Xi Jinping called on officials to stay composed in the face of domestic and global challenges, signalling Beijing will take a measured approach to the Trump administration’s new trade and investment restrictions.
China “must enhance its political capabilities and calmly respond to challenges brought about by changes in the domestic and international situation,” Xi told top officials including Politburo and State Council party members, according to a Xinhua News Agency report on Wednesday.
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