Word from the street: mortgage companies are making more profit than ever
Brett Alegre-WoodChairman, YPC Group
Hey guys,
It's an unfortunate truth but it seems that mortgage companies are making more money than ever.
How much? Remember that they're borrowing at around 1.5% and charging around 6%-6.79% with the additional 3% arrangement fee on top. It doesn't take a rocket scientist to see just how much money they are making at our expense. It's just legal extortion. Unacceptable but unfortunately there is not a lot we can do about it.
So, if you wish to take advantage of a good deal, you're just going to have to pay the premium and like it. Disappointing but the unfortunate truth.
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To me, it just makes off plan look all the better...
Live with passion,
Brett Alegre-Wood
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