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Current mortgage interest rates advances: Citigroup Inc. (NYSE:C) jumps after ending a dispute
Current mortgage interest rates moved up on Tuesday as investors were hopeful that fiscal cliff negotiations will be fruitful. JPMorgan Chase decreased their lending rate, but most banks, including KeyBank and PNC Financial Services (NYSE:PNC), lifted their loan rates. The average interest rate on 30-year fixed-rate mortgages increased one basis point to 3.427 percent. The…
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Fifth Third Bancorp (NASDAQ:FITB) and BB&T (NYSE:BBT) Announced Earnings – (C, WFC, GS, JPM)
Current mortgage interest rates rose Thursday as banks made adjustments after an advance in some of the benchmarks. BofA, Wells Fargo (NYSE:WFC), and Citigroup (NYSE:C) lifted their conventional loan products as secondary lenders acted in response to the shift in capital markets. The average interest rate on 30-year fixed-rate mortgages gained five basis points to…
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The ABS Reported A Decline In Home Loan Approvals: Citigroup Inc. (NYSE:C) Reduces Mortgage Rate – (USB, FITB, STT, RF, STI, KEY)
Lower optimism found in Australia’s housing sector contributed to a decline in home loan approvals during July. The Australian Bureau of Statistics (ABS) released data yesterday showing that the number of home loans approved in July moved down 1.0 per cent. Commsec economist Savanth Sebastian said the figures revealed recent interest rate falls had not…
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Are Large U.S. Banks Unsafe To The Financial System? – (USB, FITB, STT, RF)
The discussion over whether the U.S.’s biggest lenders are too large is heating up. Since the 2008 debt failure, the insight has taken hold among some analysts and economists that some U.S. banks are large enough to go insolvent, suggesting they would have to be bailed out in order to protect the financial system if…
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U.S. Bank Loans Growth Slowed In July – (HBAN, GS, FITB, USB, STT, RF)
U.S. bank loans growth slowed in July, according to a U.S. Federal Reserve statement on Friday, ending a 10-month string of increases. Loans at Banks in the United States grew by 5.0 percent in July when compared with the same month last year to $7.1 trillion, down from the 5.3 percent growth in June 2012.…
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Regional Banks Outperforms Their Strong Rivals With Several Better-Than-Expected Corporate Earnings – (FITB, HBAN, USB)
After scoring impressive gains in the start of the year, the financial sector has shown a noteworthy drop in the second quarter. The Financial Select Sector SPDR ETF (XLF) has lost more than 7 percent in the last three months, but is still maintaining a year-to-date performance of about 9 percent. Regional banks have performed…
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Fifth Third Bancorp (NASDAQ:FITB) Reports In-Line Profit But Misses Revenue Forecast – (C, AXP, JPM, NTRS, BAC, PNC, BLK)
Fifth Third Bancorp (NASDAQ:FITB) has recently posted second quarter 2012 profit of $385 million, as compared to profit of $430 million in the starting three months of 2012 and profit of $337 million in the second quarter of 2011. Net income available to common shareholders, after preferred dividends, was $376 million or $0.40 per diluted…