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Not wanting to sound socialist,but why should mortgage rates be more than 4 or 5 percent for anyone willing to sign on to a 30 year fixed rate.
The adjustable and interest only loans are what got many people in trouble by their being greedy for more house than they could really afford.
Standerdize mortgage interest rates,no more adjustables,banks will have clearer balance sheets and viewable cash flow based on their assets not on speculation of rising property values.
And while were at it standerdize credit card interest rates,most are higher than a loan shark,and the teaser low or "0" intro rates have more than 1 American in a bind now.
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