American banks may show less profit amid declining mortgages

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Source: Bloomberg
© Scanpix/Reuters
American biggest banks, such as JPMorgan Chase and Well Fargo may release smaller profit amounts, as new mortgages fall amid higher market interest rates. Moreover, Bank of America plans to cut more than 2000 jobs, closing 16 branches across the U.S. After Fed's announcement of the possible tapering 30-year home mortgage yields surged to 4.57% from 3.35% in May. 
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Tue, 10 Sep 2013 12:40:04 GMT

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