H&R Block Inc., Kansas City, Mo., has received a "#1 Strong Buy" rating from Zacks.com largely on the strength of the company's mortgage operations.Thanks to the strong performance of Option One Mortgage Corp. and H&R Block Mortgage Co., fiscal third-quarter earnings at the company beat Wall Street estimates. Block -- whose main business, filling out tax returns, is just hitting stride -- now expects full-year earnings of between $3.10 and $3.25 per share. "It looks like investing in a piece of Block may give investors a good refund," Zacks said.
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Retail lender Rate separately launched yet another non-mortgage brand, with outdoor saunas and other furnishings following a high-end performance wear line.
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June purchase demand strengthened, refinances remained steady and pull-through improved, reversing May losses.
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The move is designed to align the two Utah-based businesses under a single unique name and comes two years after the bank acquired the home lender in 2024.
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Federal Reserve Bank of Dallas President Lorie Logan said at an event Thursday that conducting monetary policy actions through a third party would improve efficiency and make markets stronger.
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The Rithm subsidiary plans to reduce its involvement in decentralized operations through an agreement with the American Pacific Mortgage affiliate.
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A week after falling to its lowest point since mid-May, the 30-year fixed rate mortgage turned higher as the 10-year Treasury rose 15 basis points since June.
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