Top banks are not exempt from having to overcome the market’s falling refinance volumes. Mega bank JPMorgan Chase’s (JPM) volume reductions have been rapid and dramatic, with refinance applications off 60% since interest rates began rising in early May. Per Seeking Alpha:

Chase is looking to offset this by increasing market share in the purchase market, and notes this rose to 10.7% in H1 vs. 8.6% a year ago.

Overall, the bank insists it remains well-positioned for rising rates – models show $3.7 billion in extra income in the next year from a parallel 200 basis point rise in rates. This income would grow even more in subsequent years as JPM invests at higher yields. The capital impact would be small and manageable.

Latest Articles

Keller Williams to expand its iBuyer program

Back in April, Keller Williams announced it would begin buying and selling houses. Now it’s expanding that program. Now, Keller Williams announced it will launch its iBuyer program in Birmingham, Alabama, through its partnership with Offerpad early in the first quarter of 2020.

Nov 15, 2019 By