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How do mortgage lenders make money on existing loans with rising interest rates?
How do mortgage lenders make money on existing loans with rising interest rates? The original mortgage for my house that I bought in California in 2012 was for $625K at 3.6%, 30-year fixed. I refinanced in March 2021, $510K remaining, at 1.99%, 15-year fixed. With interest rates rising to 7%, 8%, and beyond, how is my lender earning anything off of my loan?
submitted by /u/wavysail
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