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JPMorgan: At or above current mortgage rates “refinance volumes and margins will be under pressure”

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JPMorgan: At or above current mortgage rates “refinance volumes and margins will be under pressure”

A few excerpts from the JPMorgan investor presentation (Q2 results): Mortgage Production pretax income of 2mm, down 9mm YoY, reflecting lower margins and higher expense, partially offset by higher volumes and lower repurchase losses Mortgage originations of .0B, up 12% YoY and down 7% QoQ Purchase originations of .4B, up 50% YoY and 44%...
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