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Mortgage Lenders Gloomy About Profits, Fannie Mae Survey Finds

A quarterly Fannie Mae survey finds that mortgage lenders remain downbeat about near-term profitability. So reports DSNews.

thumb down 1426814 640 600x622Of 200 senior executives surveyed, 75% indicated that profit margins will fall in the next three months, an increase of 10 percentage points from the prior quarter.

Fanie Mae chief economist Doug Duncan said in a statement, “For the sixth consecutive quarter, mortgage lenders expressed bearishness about near-term profit margin expectations amid headwinds from declining refinance activity, slower purchase mortgage demand growth and narrowing spreads.”

Read the full article from DSNews.

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