It's my pleasure to welcome you to the Clark Power Show on our Bosteal Day edition.

Those of you who are familiar with Bosteal Day, our mission to serve and empower you so

you make better financial decisions in your life.

In today's episode, I get so many questions about shopping for a mortgage.

But what you need to know is banks are not where the action is.

I'm going to talk about where you should go get a mortgage.

And also there's been a lot of debate about our digital histories coming back to Bitus years

even decades later.

I'll talk about that later in today's show.

So over the years, banks have gone from being dominant in the mortgage market to becoming

basically a footnote.

Today, depending on whose stats you believe from the industry, banks now account for only

somewhere around 25, maybe 30% of mortgages issued.

Why have banks become mostly irrelevant?

Because their mortgages are generally a ripoff.

Banks charge much, much, much higher fees and usually higher interest rates than you're

going to find elsewhere.

Banks are slow, plotting, inefficient organizations.

And so if you are looking for a mortgage for a house you're buying or looking for a refinance

on a mortgage you already have,

you need to go to where the smart money goes.

And that is number one to credit unions.

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