The New York Times has decided, as have most leftists, that things that are good for you are bad. Among those things is the 30-year fixed mortgage, which enables a lot of people to get mortgages who wouldn’t have been able to afford it, but the New York Times says it fosters inequality and is unfair, so everyone in the middle class must be unable to afford a mortgage . [I added that last comment myself.]
THE TIMES:
That mortgage has been so common for so long that it can be easy to forget how strange it is. Because the interest rate is fixed, homeowners get to freeze their monthly loan payments for as much as three decades, even if inflation picks up or interest rates rise. But because most U.S. mortgages can be paid off early with no penalty, homeowners can simply refinance if rates go down. Buyers get all […]
Read the Whole Article From the Source: www.independentsentinel.com