Dan Romero
@dwr.eth
Naive question: why don't banks offer people with <4% fixed rate mortgages the ability to buy a new house with 0.5% increase to their existing rate?
6 replies
0 recast
0 reaction
adrienne
@adrienne
Most mortgages aren’t owned by the bank. They’ve been securitized and sold to investors. For the banks that do own mortgages it’s not a bad idea. But rate move has been so sudden and unprecedented so might take time before this happens, and more likely the housing market will correct first
1 reply
0 recast
0 reaction
adrienne
@adrienne
** @dwr.eth I got a much much longer answer from my mortgage bond trader spouse but tried for a cast-length summary
0 reply
0 recast
0 reaction