BANK TREASURERS SAVE OUR HOMES
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BANK TREASURERS SAVE OUR HOMES
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Thanks to low funding costs, bank treasurers can tolerate the low yields on the Resi mortgage loans they originated during COVID. It must kill them to earn less than 3% when the going rate this month shot up over 7%. At least they are still breaking even. Selling the loans is out of the question because of the losses they would incur. The alternative is to hold them to maturity. But if funding costs rise as bank treasurers expect, these assets could become more costly to hold. The question for our bank treasury readers is: is there a segment of your "locked-in" homeowners who would sell their house and move to another one but won't because of the refi cost? If so, why not offer to split the difference with them and get America moving again?
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