Pretty much title. I've seen this talked about a lot but I only very vaguely know what all this means, could someone elaborate on what happened, why it happened and what the consequences of it are?
Pretty much title. I've seen this talked about a lot but I only very vaguely know what all this means, could someone elaborate on what happened, why it happened and what the consequences of it are?
I think it's worth pointing out the difference in monthly payments for the loans in your example, those payments would be $408.24 at 2.75% interest and $599.55 at 6% (the payback amount divided by 360 months). So a higher interest rate means people have to pay more for housing.