> The thirty-year fixed-rate prepayment-option mortgage is an economic disaster. It encourages mass malinvestment. Policies designed to help low-income people b

> The thirty-year fixed-rate prepayment-option mortgage is an economic disaster. It encourages mass malinvestment. Policies designed to help low-income people build wealth actually trap them at the worst possible time. It presents macroeconomic risks (as we learned in 2008) Well not too smart, a very low % of the defaults in 2008 could be attributed to prepayable 30Y level pay mortgages.