The other thing I found interesting in some research here was that, generally—I've actually experienced this in my own personal life—if you do get a loan at prime plus 1%, or whatever it might be, the demands on collateral, on your assets, are quite high to try to back up that loan, but when you look at getting a 20% credit card, they're all too happy to just shuffle you that super-high interest card that they know they can really get you with. When you look at what the difference between credit card revenue and mortgage revenue is for the banks, it's almost on par. Is that not alarming?
On October 10th, 2024. See this statement in context.