M ortgage origination volumes at JPMorgan Chase and Wells Fargo fell by an average of 15% in the first quarter of 2026, missing the Mortgage Bankers Association's estimate of a 6% decline.
Related Brief 1h ago
credit cards Wells Fargo Launches Two New Travel Credit Cards to Capture Rebounding Travel Demand
Wells Fargo launched two new travel-focused credit cards on April 14, 2026, targeting frequent travelers with enhanced rewards and benefits. The move is designed to strengthen its credit card offerings and deepen customer engagement in a segment seeing renewed demand as post-pandemic travel rebounds. By focusing on travel enthusiasts—a group often associated with higher spending and card usage—the bank aims to drive growth in its consumer banking division. Wells Fargo, with $2.1 trillion in assets and a $254.31 billion market capitalization, is leveraging its scale to capture share in the competitive travel card market. The success of these cards could increase interchange revenue and fees, contributing to profitability. With consumer demand for travel financial products on the rise, the launch positions Wells Fargo to convert lifestyle spending into sustained banking relationships. Increased customer acquisition and card usage may directly boost the bank’s bottom line in consumer lending.
JPMorgan Chase's volume hit $13.7 billion, a 14% drop from the previous quarter. Wells Fargo originated $6.3 billion, representing a 16% decline over the same period.
Related Brief 9h ago
mortgage underwriting FHA spousal debt rule creates a debt-to-income imbalance for borrowers in community property states
Married homebuyers in community property states find their purchasing power reduced and some families are pushed out of the market because of a mortgage underwriting rule. The Federal Housing Administration (FHA) requires lenders to count a non-borrowing spouse’s debts when processing mortgage applications in Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. Lenders are prohibited from counting that same spouse’s income unless the spouse is an official co-borrower. This inflates a borrower’s debt load on paper, which increases their debt-to-income ratio. The National Association of Real Estate Brokers (NAREB) argues this creates a punitive double standard. Black borrowers in community property states face higher loan denial rates and receive smaller approved mortgage amounts than their White counterparts.
The decline comes as federal bank regulators introduced proposals in mid-March to overhaul capital rules, specifically impacting how depositories treat mortgage assets. The package includes revisions to the Basel III framework for large internationally active banks, changes to the the Global Systemically Important Bank surcharge, and updates to the U.S. standardized approach.
Related Brief 10h ago
personal finance The $361 Annual Cost of Standard Savings Accounts
A $10,000 emergency fund earns $39 a year in a standard savings account. This is the result of the national average savings rate of 0.39%, a rate most large banks pay. High-yield savings accounts at online banks pay around 4.00% APY, which earns $400 a year on that same $10,000 balance. The difference in annual earnings is $361 per $10,000.
Jamie Dimon, Chairman and CEO of JPMorgan Chase, said the proposals will force the bank to hold $20 billion more capital "for no good reason."
Related Brief 22h ago
housing market Home values in Bethel have risen to $554,248, but the real pressure is in the $626,133 median listing price
The median listing price for homes currently on the market in Bethel is $626,133, far above the town’s typical home value of $554,248. That gap signals active competition among buyers, even as broader market conditions have cooled from recent peaks. The typical home value in Bethel is $554,248, reflecting a 2.2 percent increase over the past year, according to Zillow data through March 2026. This rise continues a steady upward trend that began around 2020, when housing demand surged during and after the pandemic. Despite the slowdown in price acceleration, demand remains strong. Only 27 homes were listed for sale in Bethel as of late March 2026. Just 15 new listings entered the market during the entire month. Limited inventory and high listing prices reflect sustained buyer competition in Bethel's housing market.
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