The Mortgage Bankers Association reported a drop in mortgage applications and refinance applications last week. In this video, Motley Fool financial analyst Matt Koppenheffer tells us how, if this is the beginning of a trend, it could be very scary for the banks right now, as the fees from these mortgage and refinancing applications had been a major part of banks offsetting their shrinking net interest margins. He also tells us why, if this is a trend, it could be particularly bad for Bank of America (NYSE: BAC ) , though he warns that we shouldn't jump to conclusions yet over one week's worth of data.
To learn more about the most talked about bank out there, check out our�in-depth company report on Bank of America. The report details Bank of America's prospects, including three reasons to buy and three reasons to sell. Just�click here�to get access.
No comments:
Post a Comment