To: Sam Gamgee
Who in their right mind gets an adjustable rate mortgage if rate increases would put them in financial jeopardy?
26 posted on
11/24/2021 11:58:09 AM PST by
lurked_for_a_decade
(Imagination is more important than knowledge! ( e_uid == 0 ) != ( e_uid = 0 ). I Read kernel code.)
To: lurked_for_a_decade
“Who in their right mind gets an adjustable rate mortgage if rate increases would put them in financial jeopardy?”
In the UK, I believe the standard type of mortgage is a 5-year ARM.
In the US, people are paying high housing prices because of the availability of cheap long-term mortgages.
To: lurked_for_a_decade
32 posted on
11/24/2021 12:23:08 PM PST by
EEGator
To: lurked_for_a_decade
Millions did so before the last major market adjustment circa ~2008. They did so because they assumed the market would continue to escalate and they would sell after a few months/years and reap windfall profits.
Some succeeded. Many didn't. Lehman Brothers, for example, didn't succeed.
44 posted on
11/24/2021 2:55:36 PM PST by
LouAvul
(Farewell America. We barely knew you. )
To: lurked_for_a_decade
I keep forgetting the US mortgage market is different from Canada.
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