[glofish]

I think banks make their money not on interest rates but on various fees and overheads: each person getting a mortgage pays 10K (or more) to the bank right away. That is huge upfront money in addition to the interest rate.

Same with late fees etc. Huge business.

[arcticbull]

also folks on average refinance or sell their property every 10 years meaning folks on a 30 year restart, paying new origination fees and once more the bulk of their payments are interest.