“Rising mortgage rates mean that fewer people are refinancing their homes, which bludgeoned fourth-quarter mortgage results at Wells Fargo & Co. and J.P. Morgan Chase & Co., the country’s leading residential lenders, according to earnings reports released Tuesday. It’s all quite a change from a year ago, when mortgage revenue was still propelling results at both Wells and J.P. Morgan. Fifteen months ago, J.P. Morgan CEO Jamie Dimon declared that the housing market ‘has turned a corner,’ and Wells Fargo CEO John Stumpf added, ‘Every quarter, we have more confidence.'”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Not All Insurers Game for State Exchanges: The Consumer Impact
So far, D.C. feeling little pain from sequester's bite
Decades after Eisenhower's warning, military spending may top $700 billion
All-seeing eyes focus on the sea
Blockchain banned by Apple
Malaysia convicts first person under fake news law
Selling in Chinese Yuan: A Tool for U.S. Exporters
Bitcoin Gets a Cautious Nod From China’s Central Bank
How the US sent $12bn in cash to Iraq. And watched it vanish [2007]
Obama offers plan to deal with the high cost of college
Bitcoin hype worse than 'tulip mania', says Dutch central banker
Optic Nerve: millions of Yahoo webcam images intercepted by GCHQ
Mark Carney: Canadian deposits safe under bail-in, but no guarantee
No Exit: China Uses Passports as Political Cudgel
Getting U.S. Visa Took Longer Than Building Instagram: Co-Founder