Bank Profits May Benefit from Home Loans

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00009355-bank-profits-may-benefit-from-home-loans/

By Aleksandrs Rozens, Reuters

Low interest rates have extended America’s appetite for housing, likely boosting earnings for banks and other lenders this year, according to company and industry analysts.

The Mortgage Bankers Association on Tuesday revised its outlook for 2005 lending and predicted that U.S. home sales will hit new highs for the fifth consecutive year.

Expectations that demand for home loans will be sustained prompted Richard Bove, bank analyst at Punk, Ziegel & Co., to raise investment ratings for three U.S. banks — Atlanta, Georgia-based SunTrust Banks Inc.; First Horizon National Corp. of Memphis, Tennessee; and Birmingham, Alabama-based Regions Financial Corp.

For this complete story, please visit Bank Profits May Benefit from Home Loans.

Bank Profits May Benefit from Home Loans

Unknown Author

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