@[email protected] to News • 1 year agoA 30-Year Trap: The Problem With America’s Weird Mortgageswww.nytimes.comexternal-linkmessage-square99fedilinkarrow-up1172arrow-down125
arrow-up1147arrow-down1external-linkA 30-Year Trap: The Problem With America’s Weird Mortgageswww.nytimes.com@[email protected] to News • 1 year agomessage-square99fedilink
minus-square@Earthwormjim91link6•1 year agoAh yes it’s so much worse than other countries where that interest is 3%, oh wait no now it’s 7%, oh never mind it’s 5% now, oh hold on now it’s 12%. A rate locked for the entire term of the mortgage is immensely better for the buyer than a rate that can change every 5 or so years.
Ah yes it’s so much worse than other countries where that interest is 3%, oh wait no now it’s 7%, oh never mind it’s 5% now, oh hold on now it’s 12%.
A rate locked for the entire term of the mortgage is immensely better for the buyer than a rate that can change every 5 or so years.