Will An End To The Refinancing Boom Hurt Bank Profits?
Apparently not for the big 3, J.P. Morgan Chase, Wells Fargo, and Bank of America. I would imagine that it won’t hurt too many in general especially since we are going into the busiest months of the year for purchases.
“What’s more, while mortgage rates have risen from last month’s lows, government programs aimed at reducing rates may reassert themselves over the course of the year. Some observers contend that future declines may well be met with a new rush of lucrative mortgage refinancing.”