Robert McLister·Mortgage Commentary·March 14, 2010Banks Wage War In the last 12 days, big banks have launched a Blitzkrieg offensive on the competition. They’ve initiated unusually aggressive public rate promotions They surprised the market last week with fixed-rate reductions–despite bond yields surging over 30 basis points, and despite rate increases from non-bank lenders. There’s something going on behind the scenes. The Big 5’s mortgage divisions are morphing from Gomer Pyle to John Rambo…fast. Bankers are running through the jungle with M-60’s, whereas in kinder and gentler times (pre-2009), they sat camouflaged in the weeds with sniper rifles. More: Banks Wage War… Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.