Bank earnings to shed the first light on how higher yields are affecting the economy

Mortgage application activity pulled back last week, with a sharp decline in refinancing more than offsetting relatively stable purchase demand as mortgage rates moved higher. The Mortgage Bankers Association (MBA) reported a 2.7% decrease in total application volume on a seasonally adjusted basis for the week ending September 4. Purchase applications were little changed, slipping…

Returns from mutual fund schemes over the past year show a wide gap between the best- and worst-performing funds across categories, underscoring the importance of scheme selection for investors. Here are the top performers across categories against their benchmark and category average, as reported by ET Bureau.

Former top producer Christopher J. Gallo has pleaded guilty to a federal fraud charge for allegedly falsifying loan documents during the recent market heyday.  Processing Content Gallo pleaded guilty to a single count of conspiracy to commit bank fraud in a hearing before a New Jersey federal judge Wednesday. By pleading guilty, federal prosecutors have…

The former operator of an Ontario mortgage investment corporation (MIC) has pleaded guilty to fraud and illegally distributing securities in connection with a $5.3-million investment scheme. The Ontario Securities Commission said Ian Ross McSevney, formerly of Ancaster, Ont., raised nearly $5.3 million from approximately 30 investors between May 2015 and May 2019 through Altmore Mortgage…

Since 1984, residential property values have appreciated by 441 percent, substantially exceeding the 210 percent increase attributable to inflation. Clever Real Estate conducted a comprehensive analysis comparing four decades of federal residential property price data against the Consumer Price Index, subsequently performing an equivalent comparison across the 50 most densely populated U.S. metropolitan areas over…