Latest news with #mortgagelender
Yahoo
4 days ago
- Business
- Yahoo
Tomorrow is the final day for home buyers to qualify for Chase's ‘mortgage rate sale'
In an unprecedented move to spark business in a difficult housing market, a leading national mortgage lender is offering a limited-time "mortgage rate sale." It ends on Monday. Here are the details. The Chase Home Lending mortgage rate sale Chase Home Lending has discounted its rates on mortgages nationwide with a limited-time mortgage rate sale on purchase applications, available only through Monday, Aug. 18. "The offer provides personalized, lockable interest rate discounts for buyers looking to save on their mortgage and is stackable with other discounts the lender offers," a press notice said. How much is the discount? Erik Schmitt, digital channel executive at Chase, said the discount can be as much as a quarter-point (0.25%). For example, an offered rate of 6.5% could be cut to 6.25%. That would save a borrower over $20,600 of interest with a 30-year term on a $350,000 loan — and reduce the payment by more than $55 a month. The rate discount is for the life of the loan on fixed-rate mortgages, Schmitt said. For adjustable-rate mortgages, the discount will apply during the initial fixed-rate period of the loan. There are no additional discount points or fees related to the offer, he added. The program is available on all Chase home purchase mortgages, including FHA loans. The discount can be combined, Schmitt said, with other Chase programs, such as its relationship pricing program and the Chase DreaMaker loan, which has flexible credit requirements. The bank also offers grants of $2,500 to $5,000 to borrowers in certain areas. Credit guidelines and income limits may apply. Read more: Find Chase on our list of the best mortgage lenders this month Up next Up next How to get the Chase mortgage rate discount To get the discount, qualify for a Chase mortgage, and lock in your interest rate before Monday. The Chase "Lock and Shop" program protects you from interest rate increases for 90 days. You also have a one-time relock option to get a lower rate if mortgage rates drop during your lock period. "While customers must meet standard loan qualification criteria, there are no additional requirements to qualify for the promotional rate," Schmitt told Yahoo Finance in an email. Lock in your discounted Chase mortgage rate. Tomorrow is the deadline to qualify for the mortgage rate discount To qualify, home buyers must lock in a purchase rate by the end of business Monday, Aug. 18, 2025. The rate discount is not currently available for refinance loans. Minimum credit score, loan-to-value, and property value guidelines apply, depending on which home loan program you choose. For example, a conventional loan has a higher credit score requirement than an FHA loan. The mortgage rate discount may vary by state. Laura Grace Tarpley edited this article.
Yahoo
24-07-2025
- Business
- Yahoo
Lloyds increases dividend as profits jump by 5%
Lloyds (LLOY.L) reported a higher-than-expected pre-tax profit of £3.5bn for the first half of 2025, a 5% jump as as the lender benefited from an increase in lending and savings balances. Underlying profits for the first half of the year rose 2% to £3.56bn. Lloyds intends to pay an interim dividend of 1.22p, equivalent to £731m, representing a rise of 15% on a year ago. Profits were helped by a smaller-than-expected impairment charge for bad loans. City analysts had forecast a £591m provision, but the actual impairment was £442m, although this was still up from £101m at the same point in 2024. Underlying profit for the trimester rose by 32% year on year to £2bn, earnings per share landed at 2.1 pence, and the cost-to-income ratio stood at 52.2%. Return on tangible equity rose 2.9 percentage points from the previous quarter to 15.5%. Read more: Buy-to-let rents bringing in 7% returns to landlords For the first six months of 2025, the lender's net income added 6% to £8.9bn, and earnings per share stood at 3.8 pence, up from 3.4 pence reported a year earlier. The UK's biggest mortgage lender maintained its performance targets for the year, as improved house price expectations helped offset a decline in its economic outlook including higher unemployment expectations. Lloyds said total lending to customers increased by £11.9bn over the period, or 3%, driven by UK mortgages with some 33,000 first-time buyers borrowing on a home. Customer deposits also grew by £11.2bn, or 2%, following a strong season for ISAs, while more people moved money out of current accounts and into savings. Read more: Which Mag 7 stocks will be the top performers this earnings season? "Our strategic progress and sustained strength in our financial performance allows us to re-affirm our 2025 guidance and gives us confidence in our 2026 commitments. It also underpins our delivery of higher, more sustainable returns for our shareholders," CEO Charlie Nunn said. Lloyds is the first major UK lender to report earnings amid intensifying competition for deposit and mortgage market share among British lenders following a round of consolidation in the sector and heightened appetite from banks to boost income as interest rates fall. The bank's performance numbers could be overshadowed in the coming days by the outcome of a landmark Supreme Court ruling on a probe into Britain's motor finance sector. The bank did not set aside any additional cash to cover the potential costs of the UK motor finance scandal, which hampered previous results. It currently has £1.2bn to cover potential costs and compensation related to commission arrangements.
Yahoo
24-07-2025
- Business
- Yahoo
Lloyds increases dividend as profits jump by 5%
Lloyds (LLOY.L) reported a higher-than-expected pre-tax profit of £3.5bn for the first half of 2025, a 5% jump as as the lender benefited from an increase in lending and savings balances. Underlying profits for the first half of the year rose 2% to £3.56bn. Lloyds intends to pay an interim dividend of 1.22p, equivalent to £731m, representing a rise of 15% on a year ago. Profits were helped by a smaller-than-expected impairment charge for bad loans. City analysts had forecast a £591m provision, but the actual impairment was £442m, although this was still up from £101m at the same point in 2024. Underlying profit for the trimester rose by 32% year on year to £2bn, earnings per share landed at 2.1 pence, and the cost-to-income ratio stood at 52.2%. Return on tangible equity rose 2.9 percentage points from the previous quarter to 15.5%. Read more: Buy-to-let rents bringing in 7% returns to landlords For the first six months of 2025, the lender's net income added 6% to £8.9bn, and earnings per share stood at 3.8 pence, up from 3.4 pence reported a year earlier. The UK's biggest mortgage lender maintained its performance targets for the year, as improved house price expectations helped offset a decline in its economic outlook including higher unemployment expectations. Lloyds said total lending to customers increased by £11.9bn over the period, or 3%, driven by UK mortgages with some 33,000 first-time buyers borrowing on a home. Customer deposits also grew by £11.2bn, or 2%, following a strong season for ISAs, while more people moved money out of current accounts and into savings. Read more: Which Mag 7 stocks will be the top performers this earnings season? "Our strategic progress and sustained strength in our financial performance allows us to re-affirm our 2025 guidance and gives us confidence in our 2026 commitments. It also underpins our delivery of higher, more sustainable returns for our shareholders," CEO Charlie Nunn said. Lloyds is the first major UK lender to report earnings amid intensifying competition for deposit and mortgage market share among British lenders following a round of consolidation in the sector and heightened appetite from banks to boost income as interest rates fall. The bank's performance numbers could be overshadowed in the coming days by the outcome of a landmark Supreme Court ruling on a probe into Britain's motor finance sector. The bank did not set aside any additional cash to cover the potential costs of the UK motor finance scandal, which hampered previous results. It currently has £1.2bn to cover potential costs and compensation related to commission arrangements.
Reuters
24-07-2025
- Automotive
- Reuters
Britain's Lloyds says profits up 5%, even as economic outlook dims
LONDON, July 24 (Reuters) - Lloyds Banking Group (LLOY.L), opens new tab reported its profit for the first half of the year rose 5%, beating analysts' forecasts, as income grew even as it faces a murkier economic outlook and rising corporate defaults. The British lender said on Thursday statutory profit before tax for the first six months of the year of 3.5 billion pounds ($4.75 billion), up 5% year-on-year and just above the average of analysts' forecasts of 3.2 billion pounds. The bank also said it would pay an interim ordinary dividend of 1.22 pence per share, equivalent to 731 million pounds, up 15% on the prior year. The performance update from Britain's biggest mortgage lender showed it maintaining a strong performance, even as storm clouds gather in the economy and it faces the outcome of a crucial UK court ruling on motor finance. Lloyds maintained its performance targets for the year, as improved house price expectations helped offset a decline in its economic outlook including higher unemployment expectations. The lender also took an impairment charge of 442 million pounds, up from 101 million the year before, which it said included a small number of companies in one sector - which it did not name - moving to default during the six-month period. The bank's quarterly performance numbers could be overshadowed in the coming days by the outcome of a landmark Supreme Court ruling on a probe into Britain's motor finance sector. Lloyds is among the lenders most exposed to an adverse ruling on the cases about how banks disclosed historical commissions paid on car finance deals, and which analysts have said could cost the banking industry up to 30 billion pounds. Motor finance meanwhile performed well for the bank, as fleet growth and higher average vehicle rental values helped drive total income for the half-year to 9.4 billion pounds, an increase of 6% on the same period in 2024. ($1 = 0.7368 pounds)
Yahoo
15-07-2025
- Business
- Yahoo
Wells Fargo (WFC) Tops Q2 Earnings and Revenue Estimates
Wells Fargo (WFC) came out with quarterly earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.41 per share. This compares to earnings of $1.33 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +9.22%. A quarter ago, it was expected that this biggest U.S. mortgage lender would post earnings of $1.23 per share when it actually produced earnings of $1.27, delivering a surprise of +3.25%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Wells Fargo, which belongs to the Zacks Financial - Investment Bank industry, posted revenues of $20.82 billion for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 0.57%. This compares to year-ago revenues of $20.69 billion. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Wells Fargo shares have added about 18.8% since the beginning of the year versus the S&P 500's gain of 6.6%. While Wells Fargo has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Wells Fargo was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.53 on $21.3 billion in revenues for the coming quarter and $5.87 on $83.69 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Investment Bank is currently in the top 13% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Interactive Brokers Group, Inc. (IBKR), is yet to report results for the quarter ended June 2025. The results are expected to be released on July 17. This company is expected to post quarterly earnings of $0.45 per share in its upcoming report, which represents a year-over-year change of +2.3%. The consensus EPS estimate for the quarter has been revised 2.2% higher over the last 30 days to the current level. Interactive Brokers Group, Inc.'s revenues are expected to be $1.34 billion, up 8.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Wells Fargo & Company (WFC) : Free Stock Analysis Report Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
