With rates sky-high, mortgages drag down banks’ earnings
By: Nathan Place | Published: 2026-10-15 21:03:49 | Source: www.nationalmortgagenews.com
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- Key insight: As borrowing to buy or refinance a home becomes less attractive, mortgage lending is suffering at many big banks.
- Supporting data: At PNC Financial Services Group, quarterly noninterest income from mortgages was down 16% year over year.
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As mortgage rates soar, many banks are feeling the pain in their residential loan portfolios — and at least one is trying to…
