Recent bank failures have created another problem for the housing market: lack of credit. First American’s Potential Home Sales Model– a measure of what a healthy level of home sales should be based on market fundamentals– fell by 2.5% month-over-month in March. Year-over-year, it is down 10.7%, a loss of more than 640,000 sales. The…
By KIMBERLEY HAAS Leaders at First Citizens Bank and Trust Company have entered into an agreement to acquire Silicon Valley Bridge Bank. Silicon Valley Bridge Bank was created by officials at the Federal Deposit Insurance Corporation on March 13 after the collapse of Silicon Valley Bank. All deposits, insured and uninsured, substantially all assets, and…
By KIMBERLEY HAAS The administration worked to assure consumers that the banking system was safe on Monday following the sudden collapse of two financial institutions. Officials at the Federal Deposit Insurance Corporation announced on Friday that Silicon Valley Bank was closed by the California Department of Financial Protection and Innovation. It was the biggest bank…
End of content
End of content
Before You Go, Get the Latest News and UPDATES!
Stay Tuned!