Wells Fargo & Co (WFC), Bank of America Corp (BAC), PNC Financial Services (PNC): See What These Lenders Just Admitted

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The point is that investors should be prepared for dramatically lower origination volumes to be reported in the upcoming round of quarterly earnings, which are slated to begin in the middle of next month. This isn’t necessarily bad. And in fact, it may even be read as a positive sign, as rising mortgage rates could be interpreted as an upbeat indication of the ongoing economic recovery.

The article 2 Large Lenders Admit Mortgage Applications Are Plummeting originally appeared on Fool.com and is written by John Maxfield.

John Maxfield owns shares of Bank of America. The Motley Fool recommends Bank of America and Wells Fargo. The Motley Fool owns shares of Bank of America, JPMorgan Chase, PNC Financial Services, and Wells Fargo.

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