General World News

Mortgage is getting better for both Wells Fargo and JPMorgan

Wells Fargo and JPMorgan Chase, two top-five depository lenders that struggled more than the overall mortgage market in the final three months of 2022, have started to show real signs of improvement. 

Due to surging mortgage rates and stubbornly high house prices, their home loan businesses are much smaller than they were a year or two ago, of course. But in the second quarter of 2023, both reported increases in origination volume compared to the previous quarter. Revenue performance also improved annually for Wells Fargo and quarterly for JPMorgan in Q2 2023. 

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