4 ms·
Why is the mortgage interest capped at 10%?
by csomar 5y ago
Why is the mortgage interest capped at 10%?
- gruez 5y agoSeems like a reasonable cap when the average rate for 30 year fixed rate is currently 2.88% https://fred.stlouisfed.org/series/MORTGAGE30US https://fred.stlouisfed.org/series/MORTGAGE30US
- moqca 5y agoA good interest rate in Mexico is 9%, with the most common form of mortgage being around 12%
- BugsJustFindMe 5y ago10% is more than 3x the average rate in the US for a 30 year loan period, and rates go down further for shorter periods.
- seattle_spring 5y agoIf your credit is so bad that you can't get a loan better than 10%, you should in no circumstances whatsoever be buying a home.
- thebean11 5y agoIn the US yes, because inflation is 2.4%. Some countries have higher inflation.