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BofA profits fall as bank sets aside money for downturn 10/17/2022 08:00am • NEW YORK (AP) — Bank of America's profits fell by 8% in the third quarter as the bank set aside cash to cover potential loan losses. It's the latest bank to start socking away money for a potential recession, as Wall Street's biggest banks have become going into the winter. The nation's second-l US bank earnings revealed ominous clues about the future of the housing market 10/17/2022 07:22am • The largest US banks reported relatively solid third-quarter earnings on Friday. But within those reports, investors found ominous clues about the future of the housing market, underscoring fears of an upcoming crisis.What's happening: JPMorgan reported that third-quarter home lending revenue plunge Mortgage Rates Spike to Highest Level in 20 Years 10/16/2022 08:00pm • Mortgage rates surged across the board this past week, according to Freddie Mac, with the average fixed rate on a 30-year mortgage setting a two-decade high at 6.92%. The 30-year mortgage rate is up a quarter-point over the week prior and continues to creep closer to 7%. Additionally, 15-year fixed Lessons from Hurricane Michael being applied to Ian recovery 10/16/2022 04:56pm • FORT MYERS, Fla. (AP) — Four years before Category 4 Ian wiped out parts of southwest Florida, the state's Panhandle had its own encounter with an even stronger hurricane, Michael. The Category 5 storm all but destroyed one town, fractured thousands of homes and businesses and did some $25 billion Malik Tillman scores on solo effort for Rangers in 2-1 win 10/16/2022 12:25pm • Malik Tillman dribbled half the length of the field and scored the opening goal in the 53rd minute, helping Glasgow Rangers to a 2-1 win at Motherwell on Sunday in the Scottish Premier League. Tillman took a short pass from James Tavernier just short of the halfway stripe and sprint Griezmann lifts Atlético to 3rd after win at Bilbao 10/15/2022 11:02pm • BARCELONA, Spain (AP) — Finally free to play as many minutes as his coach wants, Antoine Griezmann scored to help Atlético Madrid win at Athletic Bilbao 1-0 and move ahead of the Basque club into third place in the Spanish league on Saturday. Griezmann was set up by Álvaro Morata in the 47th min Fairfax County welcomes the Reston’s new Lake Anne House for low-income seniors 10/15/2022 08:25am • This article was written by WTOP’s news partner InsideNoVa.com and republished with permission. Sign up for InsideNoVa.com’s free email subscription today. Lake Anne House includes 56 studios, 178 one-bedroom and six two-bedroom apartments. Residents have access to a wellness clinic, fit At debate, Walker denies past support for US abortion ban 10/14/2022 09:29pm • SAVANNAH, Ga. (AP) — Georgia’s Republican Senate candidate Herschel Walker on Friday denied his previous support for an outright national ban on abortion, though he has insisted at various points throughout the campaign that it was a proposal he endorsed. Walker, a staunch anti-abortion politic Student loan forgiveness applications now open through beta mode website, Biden administration says 10/14/2022 08:05pm • The Biden administration has opened the application process for Americans seeking student debt relief in a beta period starting Friday evening, officials told CNN, allowing applicants to begin signing up before the website is formally unveiled later this month.In August, President Joe Biden announce Bank CEOs increasingly turning pessimistic on economy 10/14/2022 02:05pm • NEW YORK (AP) — The outlook for the U.S. economy from Wall Street’s biggest banks is getting gloomier, with many top executives saying they're preparing for a potential downturn or a recession. Following the short but potent pandemic recession in 2020, many bank CEOs have spent the past year an Wells Fargo 3Q revenue boosted by higher interest rates 10/14/2022 02:02pm • WASHINGTON (AP) — Wells Fargo easily beat Wall Street's third-quarter revenue forecasts as higher interest rates helped offset a steep decline in home lending. The nation's biggest mortgage lender brought in $19.5 billion in revenue for the period, thanks to $12.1 billion in net interest income, a Realtors apologizing for past discrimination, urging change 10/14/2022 09:36am • ST. LOUIS (AP) — When Abdul-Kaba Abdullah decided to sell his home two years ago, he listed the neatly-kept, four-bedroom house at $175,000 based on presale evaluations. But once a buyer made an offer, an appraiser valued the home at only $150,000, and the bank wouldn’t give a loan for the origi JPMorgan profits fall; bank stores cash for coming downturn 10/14/2022 07:49am • NEW YORK (AP) — JPMorgan Chase & Co.'s third quarter profit fell by 17% from a year earlier, as the bank set aside roughly a billion dollars to cover potential losses in an economic recession that CEO Jamie Dimon has said could come in six to nine months. The nation's largest bank by assets p As the causes of US inflation grow, so do the dangers 10/14/2022 06:31am • WASHINGTON (AP) — What keeps driving inflation so high? The answer, it seems, is nearly everything. Supply chain snarls and parts shortages inflated the cost of factory goods when the economy rocketed out of the pandemic recession two years ago. Then it was a surge in consumer spending fueled b Asian stocks gain after Wall St rebounds from inflation jolt 10/14/2022 12:10am • BEIJING (AP) — Asian stock markets surged Friday after Wall Street rebounded from a slump caused by worse-than-forecast inflation numbers. Japan's market benchmark soared by an unusually wide margin of 3.4%. Hong Kong gained 3.3% and Shanghai also rose. Benchmark U.S. crude oil rose more than $2 p