One would stand to reason that lenders’ profits are shriveling as mortgage rates continue to hover near record lows. But according to the New York Times, big banks have actually increased their profits on mortgage loans, by charging a higher spread over interest rates. The current 3.55 percent rate for a 30-year mortgage would be closer to 3.05 percent if banks took the same profit margins they did prior to the crash. The banks gain [more]
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