"Expect more pronounced slowing" in mortgage banking and loan demand, says Sterne Agee's Todd...

"Expect more pronounced slowing" in mortgage banking and loan demand, says Sterne Agee's Todd Hagerman after this morning's earnings from Wells Fargo and JPMorgan. Mortgage banking income fell as expected, but both banks reported slowing application volumes as well, suggesting future cuts to earnings estimates. XLF -0.8%.

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Comments (7)
  • youngman442002
    , contributor
    Comments (5123) | Send Message
    But housing stocks up today..?????
    12 Apr 2013, 12:30 PM Reply Like
  • gwynfryn
    , contributor
    Comments (6460) | Send Message
    Yes yo, it's a bit of a mystery, isn't it? Inertia perhaps, as, with the jobs situation, the thing looks like a bubble to me!
    13 Apr 2013, 08:05 AM Reply Like
  • John/Jack
    , contributor
    Comments (156) | Send Message
    The mortgage refi business is going away. Everybody's done it. So what? Commerical loan demand is what matters for commercial banks.
    12 Apr 2013, 12:49 PM Reply Like
  • tedandarl
    , contributor
    Comments (3) | Send Message
    whether or not we should expect a " more pronounced slowing " in mortgage banking or loan demand is a moot point.


    The macroeconomic situation will ultimately define the pace of change in these areas. A rising tide lifts all boats, and it may well be that we
    will see some acceleration in demand as activity continues to progress.
    12 Apr 2013, 03:38 PM Reply Like
  • june1234
    , contributor
    Comments (4357) | Send Message
    Its because everybody has so much money in America these days they're paying cash for homes.
    12 Apr 2013, 04:19 PM Reply Like
  • gwynfryn
    , contributor
    Comments (6460) | Send Message
    Some, perhaps, june, but not the unemployed.
    13 Apr 2013, 08:04 AM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
    This is obvious or should be obvious. Every single report for over a year is stating speculators are buying all cash to rent. All major Banksters have set pools of cash to acquire run down properties to renovate an rent..


    This is an open fact and there are still millions underwater still and many who can't relocate do to employment issues...


    So what, the fact that 90% of these buys was all cash is a much safer situation then Obama wanting to help folks get back into homes like Barney Frank did years back .Actually, that caused the meltdown in the first place.


    New home permits are ok and homebuilders can offer assisted financing an real estate will continue to improve.Already we here noise of a bubble building again ! never ends !
    13 Apr 2013, 09:59 AM Reply Like
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