JPMorgan battles falling refi volumes

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JP Morgan’s Henry St. in July," Mr St John said. "Refinancing activity, which in the owner-occupier component of the data requires mortgage holders to have shifted from one bank to another, fell.

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 · Refi apps were down by 2.9% w/o/w but still up 3.2% y/o/y. Maybe because long-term fixed rates are now moving higher, there was a pick up in ARMs (adjustable-rate mortgages) as a.

It’s a small piece of good news for banks in the slowing housing market. There has been a mini surge in mortgage and refinancing applications spurred by falling mortgage rates, the Wall Street.

Earlier in the day, JPMorgan Chase. to be a dark spot as home refinancing activity across the banking industry weakened due to higher interest rates. The largest U.S. residential mortgage lender.

Big beats from JPMorgan Chase & Co (NYSE. could help paint a reassuring picture of the economy-was JPM’s credit card business, where sales volume rose 10% and merchant processing volume climbed 13%.

The firm began a reservation system last week that asks those who call during high-volume. to Miller. Refinancing makes up about 80 percent of all mortgage lending in the U.S., he said. By some.

Below is a slide from JP Morgan’s (JPM) Investor Day slide deck talking. A possible driver of increased volume is if refinance activity picks up, which is entirely possible given the recent decline.

One thing that stood out in the earnings report-and could help paint a reassuring picture of the economy-was JPMorgan Chase’s credit card business, where sales volume rose 10% and. though revenue.

(Investorideas.com Newswire) The ongoing battle between the United States and China for. to 2.25% to 1% in.