Mortgage banks were more profitable in 1995 than the year before, a survey says.

But the rebound mostly reflected last year's favorable interest rates, rather than fundamental improvements in profitability, said David Lereah, chief economist at the Mortgage Bankers Association.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.