Mortgages Expected to Be a Bright Spot for U.S. Bank Results in Q1
Reuters is suggesting that – when the big banks begin reporting their earnings for the first quarter of the year next week – the mortgage sector is expected to be a particularly bright spot in the report.
“The numbers are very strong,” said Paul Miller, an equity research analyst at FBR Capital Markets. “Mortgage banking revenue will probably be greater than people are reporting.”
Historically low interest rates – coming in as low as 3.63 percent in the first quarter of 2015 – have played a huge part in the increased number of mortgage applications seen so far this year.
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