While Bank of America Corp (NYSE:BAC) continues to try to repair some new damage to its mortgage-related reputation, both JPMorgan Chase & Co. (NYSE:JPM) and Wells Fargo & Co (NYSE:WFC) are well situated to jump on new business. Combined, the two banks accounted for nearly 39% of the new mortgage business in 2012. Much like the history that points to a continued climb for the Dow Jones Industrial Average (INDEXDJX:.DJI) in the second half of the year, if history repeats itself for the banks, they are in the prime position to cash in on the continued housing recovery before the close of 2013.
The article Is the Dow’s Best Yet to Come? originally appeared on Fool.com is written by Jessica Alling.
Fool contributor Jessica Alling has no position in any stocks mentioned — you can contact her here. The Motley Fool recommends American Express, Bank of America, and Wells Fargo. The Motley Fool owns shares of Bank of America, JPMorgan Chase, and Wells Fargo.
Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.