you don't need a to be a genius to have known that the 2.4% interest rate won't last for ever. Everyone in america with a mortgage knew that and rushed to re-fi

you don't need a to be a genius to have known that the 2.4% interest rate won't last for ever. Everyone in america with a mortgage knew that and rushed to re-finance. So why did bank managers not know. i think its more like, they had no other good options to park their cash. So they took the best of a bunch of bad options