Lenders report slowdown in mortgage applications

04/15/2013 | Washington Post, The

JPMorgan Chase and Wells Fargo both reported drops in applications for home loans in the first quarter. Analysts said a softening in demand for mortgages could lead to a further decline in interest rates as lenders compete for business. "Our guess is that mortgage origination levels and revenues will continue to come down," Wells Fargo Chief Financial Officer Tim Sloan said.

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