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You better have fixed rates. It isn’t going to help lower income people who are more likely to have credit card debt or variable rate mortgages.
by WillPostForFood 5y ago
You better have fixed rates. It isn’t going to help lower income people who are more likely to have credit card debt or variable rate mortgages.
- spamizbad 5y agoMost low income people are already paying near their maximum legal rate on credit cards.
- mywittyname 5y agoFixed rates are the standard for mortgages and car loans. An outcome of the Great Financial Crisis was a move away from ARMs through a rise in rates and in income levels necessary to qualify for them. Plus, banks prefer fixed rates in a declining rate environment (basically the past 10 or so years.). But yeah, credit card debt is never good.