[Toddsterpatriot]

As I understand it, Federal Reserve interest rate manipulation is normally a money-losing proposition.

For who?

To help the Fed, the federal government might make mortgage interest at less than 3.5% not deductible.

Which politicians are going to vote to screw people with low-rate mortgages?

The Fed might then offer to refinance below 3.5% mortgages at higher rates.

The Fed has no retail banking operations.

[Brian Griffin]

“For who?”

For the taxpayers.

“Which politicians are going to vote to screw people with low-rate mortgages?”

The 2.67% Trump Covid era mortgages were political handouts. The mortgagors got a too sweet deal. Even mortgages refinanced at 3.5% would be a sweetheart of a deal.

“The Fed has no retail banking operations.”

People who don’t refinance will simply not get an interest deduction anymore.