The impact of high property values and rising mortgage rates that shut some buyers out of the spring real estate market is starting to show up in the quarterly results of some of the nation's banks. Wells Fargo & Company (WFC), JPMorgan Chase & Co. (JPM), Citigroup Inc. (C) and The PNC Financial Services Group, Inc. (PNC) all reported second quarter results showing signs of weakness in mortgage originations.We saw an earlier report a month ago about new housing weakness and this has moved up to the banks.
Monday, July 16, 2018
Housing market weaker
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