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Welcome to the ‘We Just Don’t Know’ Economy

The Breakdown

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The Rise of Non Bank Lenders in the Mortgage Industry

Mortgage industry is beginning to see lenders go out of business. Home loan applications are less than half of where they were a year ago. Wells fargo, which at its peak, originated one out of every three home loans in the us, is preparing a major pullback from the lending business. And yet, there were counterpoints us. Industrial p ction rose this week by more than double what economists expected,. retail sales rose zero point seven % in july and manufacturing rows hit a seven year high.

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