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Single family homes on the market. Updated weekly.Powered by Altos Research
706,554-12,501
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30-Yr. Fixed Conforming. Updated hourly during market hours.
6.91%-0.02

American Express Latest to Become Bank

Via the Federal Reserve:

The Federal Reserve Board on Monday announced its approval of the applications and notices under sections 3 and 4 of the Bank Holding Company Act by American Express Company and American Express Travel Related Services Company, Inc., both of New York, New York, to become bank holding companies on conversion of American Express Centurion Bank, Salt Lake City, Utah, to a bank, and to retain certain nonbanking subsidiaries, including American Express Bank, FSB, Salt Lake City, Utah.

Everyone is moving into the FDIC’s purview, and at HW, we don’t think that’s a mistake.

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Home equity gains slowed in Q3. Are prices stabilizing? 

U.S. mortgage holders experienced a home equity increase in the third quarter of 2024 — up 2.5% year over year to a total of $17.5 trillion nationwide. But that was down from 8% growth in the second quarter, and negative equity also ramped up for the first time in two years, according to a CoreLogic report.

3d rendering of a row of luxury townhouses along a street

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