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J.P. Morgan, Wells Fargo: Housing on Mend

Housing Market

Two of the nation's largest banks released third-quarter results that suggest the U.S. housing market, a key factor in the nation's economic performance, is bouncing back as mortgage rates hit record lows and home refinancings surge.

 

Wells Fargo Profit Up 17%

The nation's largest mortgage lender said revenue from mortgage banking jumped almost 80% and consumers borrowed more on their credit cards. But it called the economic recovery uneven.

 

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