(Reuters) - JPMorgan Chase & Co is in talks with government officials to settle federal and state mortgage probes for $11 billion, two people familiar with the matter said on Wednesday. The sum could include $7 billion in cash and $4 billion for consumers, said the sources, who asked not to be identified...
Higher Mortgage Rates to Weigh on Economic Growth
The recent rise in mortgage rates could shave between 0.2 to 0.3 percentage point from economic growth over the coming year, with the largest pinch being felt during the third quarter, according to an analysis by economists at Goldman Sachs.
The Federal Reserve surprised markets on Wednesday when it opted not to begin an anticipated wind-down...
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Mortgage Rates News
Applications Decline
Home-loan applications for purchases have declined 14 percent since the start of May when interest rates surged by the most in two decades, according to the Mortgage Bankers Association, and price appreciation has slowed, albeit from the fastest pace in seven years.
The average rate on a 30-year, fixed-rate purchase loan...
