Bank of America Corp (BAC), JPMorgan Chase & Co. (JPM): Drama Can’t Keep the Dow Jones Industrial Average (.DJI) Down

Refinancing activity has slowed due to the higher rates, and the new average is likely still too high to tempt new business in that segment of home lending. Wells Fargo & Co (NYSE:WFC) has already noted that the refinancing activity was a big driver for its first quarter and the slowdown from higher rates will initially be hard to offset. But investors in all three banks should be confident that they can weather the volatility that may occur as the markets return to a normalized interest rate environment.

The article Drama Can’t Keep the Dow Down originally appeared on Fool.com is written by Jessica Alling.

Fool contributor Jessica Alling has no position in any stocks mentioned — you can contact her here. The Motley Fool recommends Bank of America and Wells Fargo. The Motley Fool owns shares of Bank of America, JPMorgan Chase, and Wells Fargo.

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