Wells Fargo profit slumps on higher loan loss reserves, mortgage weakness

Wells Fargo profit slumps on higher loan loss reserves, mortgage weakness

A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Register now for FREE unlimited access to Reuters.com Register July 15 (Reuters) – Wells Fargo & Co said on Friday its second-quarter profit nearly halved as the bank set aside more funds to cover potential loan losses, while its

Economic cost of climate change could be six times higher than previously thought

Economic cost of climate change could be six times higher than previously thought

Credit: Unsplash/CC0 Public Domain Economic models of climate change may have substantially underestimated the costs of continued warming, according to a new study involving UCL researchers. Published today in the journal Environmental Research Letters, the work by an international team of scientists found that the economic damage could be six times higher by the end

Mortgage interest rates today for Aug. 27, 2021: Rates push higher

Mortgage interest rates today for Aug. 27, 2021: Rates push higher

Jim Lane/Getty Images A few important mortgage rates moved higher today. The average interest rates for both 15-year fixed and 30-year fixed mortgages both climbed higher. For variable rates, the 5/1 adjustable-rate mortgage also notched up. Although mortgage rates are always changing, they’re lower than they’ve been in years. Because of this, right now is

Here are mortgage rates for Aug. 11, 2021: Rates inch higher

Here are mortgage rates for Aug. 11, 2021: Rates inch higher

Martin Chan/Getty Images Several major mortgage rates rose today. Average interest rates for 15- and 30- year fixed mortgages both increased, while the average rate for 5/1 adjustable-rate mortgages also went up. Although mortgage rates always fluctuate, they’re currently lower than they’ve been in years. If you want to lock in a low fixed rate,

Treasury Yields Tick Higher After Economic Data and a Big Budget Proposal

Treasury Yields Tick Higher After Economic Data and a Big Budget Proposal

Text size Treasury yields climbed Thursday after a couple of economic data points indicated a continued U.S. recovery and amid reports that a coming budget proposal from the White House would, if adopted, boost federal spending to the highest levels since World War II.  The economic recovery is among the factors driving Treasury yields higher.