Shares of home builders enjoyed a broad rally Wednesday after BofA Securities said it sees a “favorable setup” for the sector, with lower mortgage rates on the horizon.
Analyst Rafe Jadrosich said that after the home-builder sector underperformed in 2022, with demand deteriorating in the second half of the year as mortgage rates more than doubled, he’s still cautious on housing demand, especially in the first half of 2023, amid macroeconomic concerns. The iShares Home Construction exchange-traded fund ITB climbed 1.6% in midday trading, with 46 of 48 components trading higher. That outperformed the S&P 500’s SPX 0.5% gain.
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Huh?
How? Fed plans on raising rates, again.
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Wells Fargo, once a mortgage giant, shrinks home-lending businessWells Fargo said late Tuesday it was shrinking its home-mortgage business, aiming to serve its own bank customers as well as people in 'minority communities.' Criming will do that Are they looking to sell current mortgage positions? Read the article and still not sure exactly. They are cutting people in the mortgage division? Absolute shocker.
출처: MarketWatch - 🏆 3. / 97 더 많은 것을 읽으십시오 »
Wells Fargo to exit correspondent business, reduce mortgage servicingWells Fargo said on Tuesday the bank would exit the correspondent business and reduce the size of its servicing portfolio to sharpen its focus on the mortgage business. Will WellsFargo please stop over-padding my escrow? I'm really, REALLY, sick of it.
출처: Reuters - 🏆 2. / 97 더 많은 것을 읽으십시오 »
Wells Fargo Is Shrinking Its Mortgage BusinessWells Fargo is dramatically shrinking its home-lending business following a string of scandals and a record fine from the Consumer Financial Protection Bureau Lending based on race/ethnicity used to be called redlining. Or simply racism. Break up Wells Fargo Well Fargo is incredibly lucky that no Court has (yet) pierced the Corporate Veil and Assessed damages against the personal assets of Executives and Board Members. SHOULD happen; hasn't - yet.
출처: WSJ - 🏆 98. / 63 더 많은 것을 읽으십시오 »