Banks' increasing reliance on mortgage revenues has put investors on edge over a refinancing wave that will inevitably fade.

Strong volume and healthy profit margins appear to have continued into early 2013, however, and banks say they are adding production capacity and intent on gaining market share. They have seen cycles before, they say, and they can scale down operations when the time comes. (The first tab in the following graphic shows data on mortgage revenues and originations at the five biggest banks, and the second tab shows data on industrywide volume and profit margins. Interactive controls are described in the captions. Text continues below.)

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