May 1, 2023
JPMorgan Chase & Co. will pay $10.6 billion to the Federal Deposit Insurance Corporation (FDIC) to buy First Republic Bank As a part of this deal, JPMorgan will take on all $92 billion of First Republic’s $103.9 billion deposits. It will also buy the bulk of the failed bank’s assets, which include about $173 billion in loans and $30 billion in securities.
May 22, 2023
“The mortgage refinancing boom is over, but its impact will be seen for decades to come”. Fed data shows that about 14 million mortgages were refinanced during the pandemic period starting in March 2020. Some 64% were considered “rate refinances,” or homeowners looking to take advantage of lower borrowing costs. Average savings totaled about $220… Read more »
