Fee income is the great stabilizer of bank earnings, particularly in unfavorable interest rate environments such as the one we're currently experiencing.
More Quotes from Greg McBride:
The average homebuyer moves every seven to 10 years,Greg McBride
Think of all the demands on each of your paychecks. There are bills that have to be paid, you have to manage your debts, hopefully pad your savings a bit and still save for retirement.
Greg McBride
When the yield curve inverts, banks' funding costs rise above what they earn by lending. This can produce a credit crunch.
Greg McBride
Shop around, since there's no need to pay some of these fees when the bank across the street doesn't charge them. Also look for free non-interest checking, not an account whose interest is a pittance and requires a higher balance and higher monthly service charge.
Greg McBride
Sometimes that difference between short-term rates and long-term rates expands and sometimes it narrows. That difference has narrowed in the last two years, which hampers banks' ability to profit from the difference.
Greg McBride
That could really crimp consumer spending and hold back economic growth.
Greg McBride
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