It’s not that the interest is higher now! It’s that it’s fixed for 30 years no matter what the interest rate environment is! Plus it can be paid off early and refinanced when it suits the borrower!
I don’t know how more clearly I can state why this is a glaring subsidy for the rich. I’m sure in a free market these would just appear by themselves /s
I don’t know how more clearly I can state why this is a glaring subsidy for the rich. I’m sure in a free market these would just appear by themselves /s