Fannie Mae made downward revisions to mortgage rate forecasts in its latest monthly economic update with projections for higher volumes than previously anticipated next year. The government-sponsored enterprise revised the average 30-year fixed-rate mortgage projection for fourth-quarter 2025 to 6.4% from 6.5%, and the one for the same loan type a year further out to […]
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Andrew Harrer/Bloomberg Key insight: Federal Reserve Chair Jerome Powell said the recent uptick in the unemployment rate and slowing job gains were factors that led the central bank’s rate-setting committee to cut short-term interest rates by 25 basis points. Expert quote: “Our policy is not on a preset course. We will continue to determine the
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Adobe Stock: Tada Images FICO, the eponymous credit score provider, announced three artificial intelligence language models for financial services firms on Tuesday: Focused Foundation Model, Focused Language Model and Focused Sequence Model. In developing its own language models, FICO is offering an alternative to the large foundation models that have become popular in the industry,
Seeking better results, FICO launches bank-specific AI models Read More »