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re: interest rates on home mortgages wont fall anytime soon
Posted on 7/25/23 at 4:24 pm to el Gaucho
Posted on 7/25/23 at 4:24 pm to el Gaucho
quote:
they even had “subprime” mortgages where the interest rate was less than 0 and they got paid to borrow money
Subprime doesnt mean what you think it does. It refers to the Offering of loans to individuals that didnt meet normal lending standards. If anything they paid higher than market rates and it led to the mortgage crisis. My first mortgage was 5.5% w perfect credit in 2005 and that was a great rate at the time.
This post was edited on 7/25/23 at 4:25 pm
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