US Mortgage Rates Highest Since Jan 2014, Applications Fall 4%

With all the noise from Wall Street execs and their bonuses the landscape isn’t looking so shiney for main street. We have had the stress of the biggest stock market point crash ever and now we see 30 year loans are at their highest since Jan 2014. no wonder applications 4.1%

Bank of America $BAC Earnings Beat Despite Fixed Income & Commodities Losses

Bank of America $BAC,  America’s second-biggest bank by assets reported better than expected third quarter earnings before the bell on Friday ahead of Wells Fargo $WFC and PNC Financial $PNC. The stock was up premarket.

World Bank Warns on Size of Shadow Banking Of Chinese Debt

The World Bank warn the steep growth of shadow banking could trigger a debt crisis in China in it’s October report on the East Asian and Pacific economies. They see Chinese debt levels and it’s “shadow banking” as one of the greatest threats to regional prosperity.