Word from the street: mortgage companies are making more profit than ever
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.
To me, it just makes off plan look all the better…
Live with passion,
Brett Alegre-Wood
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