Hints and tips:
Related Special Reports
...But while JPMorgan had to rescue ailing institutions such as mortgage lender Washington Mutual, it could still reduce its share count since 2008 by 27 per cent....
...survey of banks and building societies....
...Net mortgage approvals for house purchases rose to 60,400 in February from 56,100 in January, the Bank of England said on Tuesday....
...Mortgage pricing is based on the cost of “swaps”, derivative contracts that banks use to manage their interest rate risk....
...A Russian court has ordered the seizure of JPMorgan Chase funds totalling $439.5mn a week after Kremlin-run lender VTB launched legal action against the largest US bank to recoup money stuck under Washington...
...In minutes from the Bank of Canada’s March meeting, members of the central bank’s governing council agreed it was “too early” to cut rates, but said “the conditions for rate cuts should materialise over...
...Tracker mortgages, however, which follow the Bank of England’s base rate, are falling out of favour....
...JPMorgan Chase chief executive Jamie Dimon said the US economy was “booming” but warned that he was “on the cautious side” of there being a soft landing....
...to the Bank of England’s quarterly survey of banks and building societies....
...Listening to a recent FT Behind the Money podcast about JPMorgan Chase, however, made me wonder if banks might not be the most interesting and perhaps even the most extreme example of that dynamic....
...The average two-year mortgage with 60 per cent loan to value was 4.62 per cent in February, according to the central bank....
...UK mortgage approvals rose much more than expected in February, reaching their highest level since September 2022, as mortgage interest rates fell from their peaks, Bank of England data showed on Tuesday...
...Since then, disappointing inflation data has led the markets to reassess the timing and extent of interest rate cuts by the Bank of England this year, resulting in some mortgage rates increasing again since...
...A Russian court has ordered the seizure of JPMorgan Chase funds totalling $439.5mn after state-owned lender VTB filed a lawsuit to “recover losses” from the largest US bank....
...It follows a sharp rise in mortgage costs over the past three years as the bank has battled rising inflation....
...A new unit, Chase Media Solutions, will help brands target the bank’s customers based on their spending history....
...These were bigger gains than at rival banks JPMorgan Chase and Citigroup, which reported results last week. Investment banking, meanwhile, had its best quarter in two years, with revenues of $2.1bn....
...The jump in interest rates to the highest levels in decades has led to a big increase in mortgage scams, according to banks and regulators....
...JPMorgan Chase, Bank of America, Wells Fargo and Citigroup collectively made $253bn in net interest income (NII) for the whole of 2023 — a 19 per cent jump from 2022’s total....
...Its price to book value of nearly 3 times trumps that for mortgage-heavy Wall Street banks like JPMorgan, Bank of America and Wells Fargo. But Rocket doesn’t have appreciably higher return on equity....
...from the Bank — had added “stability” to the mortgage market....
...JPMorgan Chase shares fell by the most in almost four years on Friday as an underwhelming outlook for its lending business overshadowed an increase in first-quarter profits at the US’s largest bank....
...Banks charge more for high loan-to-value mortgages, given the higher risk to the lender should the property fall into negative equity....
...The bank said net loans at its retail unit decreased by £1.7bn as more customers paid off their mortgage balances early....
...are also likely to be refinancing on higher rates through 2024 even while Bank Rate is being cut....
International Edition