Mortgage refinancings once again drove banks' profits last quarter and, with interest rates at record lows, most industry experts expect the trend to continue at least through the end of the year.

Still, it is not too soon for bank executives to be thinking about the end of the refi boom. In conference call after call this earnings season, CEOs were asked how they intend to make up for the lost profits when interest rates rise and the number of borrowers eligible to refinance ultimately peters out.

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