StrawberryPigtails@lemmy.sdf.org to News@lemmy.world · 9 months agoA 30-Year Trap: The Problem With America’s Weird Mortgageswww.nytimes.comexternal-linkmessage-square102fedilinkarrow-up1170arrow-down125
arrow-up1145arrow-down1external-linkA 30-Year Trap: The Problem With America’s Weird Mortgageswww.nytimes.comStrawberryPigtails@lemmy.sdf.org to News@lemmy.world · 9 months agomessage-square102fedilink
minus-squareEarthwormjim91@lemmy.worldlinkfedilinkarrow-up6·9 months 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.