Moody's lowered the ratings of the 15 largest banks in the world

NEW YORK (AP) — Moody's Investors Service lowered the credit ratings of 15 the world's largest banks late Thursday, including Bank of America, JPMorgan Chase and Goldman Sachs, saying their long-term prospects for profitability and growth are shrinking.

Reduced trust leads to a decrease in lending for SMEs

The UK’s big banks have renewed their lending squeeze, according to the Federation of Small Businesses (FSB), with four in 10 of Britain’s smaller enterprises refused credit in the last three months.

Mortgage rates are unchanged!

Mortgage Rates were nearly unchanged to slightly higher depending on the lender in question.  The pre-rounded average from our best-execution calculation barely budged today and only moved on the rates page due to crossing over the mid-point and rounding to the next 0.01 higher.  Lenders' rate sheets have been fairly diverse recently, but took steps to become less stratified today.  In other words, rates between lenders grew more similar, and 3.625% continues to be the current Best-Execution rate for Conventional 30yr Fixed loans.