According to WalletHub, the average credit card rate for new offers is now over 21%. Store Card rates are trending even higher, with some as high as 30%! Yet, after paying down credit cards during the worst of COVID, consumers…
The Merger Floodgates Have Opened
Last May (JRN 39:18) we wrote an article entitled, ‘In the Words of Nancy Reagan, “Just Say No.”’ In that article, we reflected on the fact that some of our nation’s largest banks had been allowed to keep acquiring smaller…
Residential Real Estate Woes, It’s Déjà vu Again
Residential mortgage loans grew by 9.6% ($214 billion) at the nation’s banks during the 12 months ending September 30, 2022. In addition, the quality of these single family mortgage loans improved significantly over the year. The non-current rate for 1-4…
Scrutiny or Not, Big Bank Merger Approved
The long awaited acquisition of 4-Star MUFG Union Bank, N.A. (also known simply as Union Bank) by U.S. Bancorp finally closed in December. The combination of the two banks (Union Bank into 4-Star U.S. Bank, N.A.) will still take several…
4 Decades in, We’re Looking back to the Future
Welcome Back! As Jumbo Rate News enters its 40th year in publication, we thought it would be a good time to look back to how we got here. Let’s set the stage: The year was 1983; Ronald Reagan was President;…