Canary On The Mortgage Desk: Wells' Mortgage Business Is Crashing

Meanwhile, Wells' mortgage originations number, which usually trails the pipeline by 3-4 quarters, was nearly as bad, plunging $10BN sequentially from $53 billion to just $43 billion, the second lowest number since the financial crisis. Since this number lags the mortgage applications, we expect it to continue posting fresh post-crisis lows in the coming quarter especially if rates continue to rise.

 

 

 

https://www.zerohedge.com/news/2018-04-13/wells-just-reported-worst-mortgage-number-financial-crisis

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