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While refinancing activity is just half that of the boom years, what's left is more profitable,...

While refinancing activity is just half that of the boom years, what's left is more profitable, and Wells Fargo (WFC) - which writes 1 in 3 U.S. mortgages - is reaping the benefits. Gains on mortgage originations were up 127% Y/Y in Q1, contributing more than half of the bank's $4.25B income. 2013 may be a different story though, as the MBA is calling for a 60% drop in refi activity.
Comments (3)
  • DeepValueLover
    , contributor
    Comments (8154) | Send Message
     
    With the 10 Year heading toward the once unthinkable 1% barrier we are just in the top of the first inning of the refi golden years.
    29 May 2012, 09:06 PM Reply Like
  • Tack
    , contributor
    Comments (12751) | Send Message
     
    You wanna see refi's go nuts? Just watch what happens when rates start to rise, not fall?
    29 May 2012, 09:20 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (8154) | Send Message
     
    The way things are going I doubt rates will be heading higher anytime soon.

     

    Look at German Bunds and the Swedish, Swiss and Dutch bonds.

     

    Holy Smokes!
    30 May 2012, 09:42 PM Reply Like
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