Banks, Refinancing | featured news

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.

As the government expands its support of the housing market, analysts expect that mortgage profits at banks will rise in third-quarter earnings reports and will continue well into next year.

Bank of America trails other banks in refinancing mortgages ahead of government deadline.