So the losers in all this are the owners (those receiving the payments) of the 3% mortgages. Who are they?
The nature of a thirty year is that in a high inflation environment your initial payments have to be super high relative to rent to facilitate lower then rent payments far in the future. It also locks you into staying in one location in order to get that benefit.
If I understood you're comments and questions, answer is the taxpayers, the federal goverment is responsible for 90% of servicing mortgages outstanding, the reason is because of all those federally backed mortgage programs, and tax benefits, plus conservership of Fannie and Freddi Mac, which has been a cash cow for the government. I would encourage you to review the mortgage data from goverment and private sources that discusses the demographic of mortgage holders and see for them staying in one location is more of a choice for them.
Thanks!
So the losers in all this are the owners (those receiving the payments) of the 3% mortgages. Who are they?
The nature of a thirty year is that in a high inflation environment your initial payments have to be super high relative to rent to facilitate lower then rent payments far in the future. It also locks you into staying in one location in order to get that benefit.
If I understood you're comments and questions, answer is the taxpayers, the federal goverment is responsible for 90% of servicing mortgages outstanding, the reason is because of all those federally backed mortgage programs, and tax benefits, plus conservership of Fannie and Freddi Mac, which has been a cash cow for the government. I would encourage you to review the mortgage data from goverment and private sources that discusses the demographic of mortgage holders and see for them staying in one location is more of a choice for them.