Friday, January 11, 2013 2:54 pm
News Summary: Wells Fargo kicks off bank earnings
By The Associated Press
THE HOME FRONT: Wells Fargo is the country's biggest mortgage lender, and its results are a bellwether for the entire housing market. Mortgage originations were up slightly over the year, but they slowed compared to the record third quarter.
THE REFINANCE FORCE: Nearly three-quarters of the mortgage applications were from borrowers who want to refinance their homes. Federal Reserve policy is keeping interest rates extremely low.