A rise in interest rates is slamming US homeowners' demand for mortgages, prompting large and midsize banks to cut jobs and warn investors of declining...

Tom McKay

A rise in interest rates is slamming US homeowners' demand for mortgages, prompting large and midsize banks to cut jobs and warn investors of declining profitability in the home-loan business. Wells Fargo and JP Morgan are warning of downgrades to their mortgage origination businesses. (VIEW LINK)


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