Banks make their profits from fees on mortages. They do not make their income from interest rates. The purpose of variable interest rates. is to be able to bundle loans in order to sell them mostly to Fannie mae. The banks work to unload mortages asap.
----------------------------------------------------------------------------------- Your quote is talking about (whole sample) of latino, white, and black. This thread is about the latino, white, and black people (with the high credit score) And the chart show latino and black people with the high credit score do not get the same interest rate compare to white (non latino) people. Go look on page 1 of this thread , or to this link from ricter. http://www.epi.org/publication/lati...rime-mortgages/
As a general rule, when people get screwed on price it's because (a) they didn't shop around, and (b) they didn't negotiate.
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