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Banking & Finance

Striking a Balance Between Innovation and Tradition With AI

Do the benefits outweigh the challenges and what are the future implications for both firms and their clients?

Average Long-Term US Mortgage Rises To 6.94%

The average rate on a 30-year mortgage rose to 6.94% from 6.90% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.65%. The average rate is now just below its highest level since mid-December, when it was 6.95%.

The Fed’s Preferred Inflation Gauge Picked Up Last Month, a Sign of Still-Elevated Prices

The government reported Thursday that prices rose 0.3% from December to January, up from 0.1% in the previous month. But in a more encouraging sign, prices were up just 2.4% from a year earlier, down from a 2.6% annual pace in December and the smallest such increase in nearly three years.

US Economy Grew Solid 3.2% in Q4, a Slight Downgrade From Government’s Initial Estimate

U.S. growth has now topped 2% for six straight quarters, defying fears that high interest rates would tip the world’s largest economy into a recession.

Banking & Finance / Real Estate

Average Long-Term US Mortgage Rises To 6.94%

The average rate on a 30-year mortgage rose to 6.94% from 6.90% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.65%. The average rate is now just below its highest level since mid-December, when it was 6.95%. read more >
Banking & Finance / Industry / Restaurants & Food / Tourism

Eclipse Economics: Arkansas Expects Tourism Boom on the HorizonLock Icon

To calculate how many eclipse chasers will be looking skyward in Arkansas at 1:45 p.m. on Monday, April 8, economists and tourism officials started by looking backward. read more >
Banking & Finance / Industry

Tammie Davis Promoted to Division President at Cadence Bank (Super Mover)

Davis has been associated with Cadence Bank and its predecessor banks for more than 15 years. read more >
Banking & Finance / Business Services / Government & Politics / Industry

Robert Birch Hired as Economic Development Director for the City of Jacksonville (Movers & Shakers)

He previously was director of business development for the city of North Little Rock. read more >
Banking & Finance / Government & Politics / Industry / Investments

Pig Butchering (Gwen Moritz Editor’s Note)

A Kansas bank failure reminds me of episodes closer to home. read more >
Banking & Finance / Government & Politics / Legal

FDIC Sanctions Nine Bank of England Mortgage Employees

Federal bank regulators said a branch in suburban Detroit engaged in bait-and-switch tactics and other systemic deception of customers. read more >
Banking & Finance / Government & Politics / Investments / Real Estate

Fed Minutes: Officials Worried That Progress on Inflation Could Stall in Coming Months

Some officials “noted the risk that progress toward price stability could stall, particularly if aggregate demand strengthened” or that the progress in improving supply chains could falter. read more >
Banking & Finance / Energy / Industry / Manufacturing

Polk Stanley Wilcox Announces 5 Promotions (Movers & Shakers)

The promotions are across the Little Rock and Fayetteville offices. read more >
Banking & Finance / Industry / Real Estate

Southern Bancorp Adds 20th Branch in Mississippi

Meanwhile, Simmons Bank is opening new branches in Tennessee and Texas. read more >
Banking & Finance / Investments / Nonprofits / Small Business

Report: Wealth Disparities by Race Grew During The Pandemic, Despite Income Gains

According to a report from the New York Federal Reserve Bank, the real net worth of white individuals has outgrown that of Black and Hispanic individuals by 30 percentage points and 9 percentage points, respectively. read more >
Banking & Finance / Energy / Government & Politics / Investments

Recession Risks are Fading, Business Economists Say, but Political Tensions Pose Threat to Economy

A growing share of business forecasters worry that the Fed is keeping rates unnecessarily high. read more >
Banking & Finance / Business Services / Construction / Health Care / Real Estate / Tourism

Extended Stay Hosts $4.4M Transaction (Real Deals)Lock Icon

The 120-room hotel in west Little Rock weighed in at $4.46 million. read more >
The John Paul Hammerschmidt Federal Building in Fayetteville
Banking & Finance / Investments / Legal

Fayetteville Investment Banker Faces Guilty Verdict in $18M Fraud Case

The sentencing hearing for John Nock is postponed, with a new date not yet set. read more >
Banking & Finance / Energy / Retail

2 Promoted at Conway Corp (Movers & Shakers)

Jeff Crownover will serve as telecommunications systems senior engineering tech, and Kody Miller chief plant officer of the Tupelo Bayou Wastewater Treatment Plant. read more >
Banking & Finance / Business Services / Real Estate

Jonathan Cole Named President of Appraisal Institute’s Arkansas Chapter

He's the appraisal review manager at First Community Bank of Batesville. read more >
Banking & Finance / Agriculture & Poultry / Government & Politics / Real Estate

Calvin King Reappointed to FHLB Dallas Advisory Council

King is the founder, president and CEO of the Arkansas Land and Farm Development Corp. in Brinkley. read more >
Banking & Finance / Real Estate

Average Long-Term US Mortgage Rate Edges Higher, but Remains in Mid-6% Range

The average rate on a 30-year mortgage rose to 6.64% from 6.63% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.12%. read more >
Banking & Finance / Government & Politics / Legal

Arkansas Joins $1.5M Settlement Against Crypto Platform

The investigation determined that TradeStation Crypto Inc. engaged in the unregistered offer and sale of securities. read more >
Banking & Finance / Investments / Small Business

Small Business Acquisitions Leveled Off in 2023 as Interest Rates Climbed, but 2024 Looks Better

Quarterly results show stark changes in the market: Transactions fell 10% in the first quarter, remained flat in the second and third quarters as interest rate hikes slowed, and rose 12% in the fourth quarter. read more >
Banking & Finance / Government & Politics / Investments / Real Estate

Powell: Federal Reserve On Track To Cut Rates This Year

WASHINGTON (AP) — Chair Jerome Powell said in an interview broadcast Sunday night that the Federal Reserve remains on track to cut interest rates three times this year, a move that’s expected […] read more >