My son has just purchased a home on a fixed rate 30 year mortgage. $225K home loan. His wife told me they got it at somewhere around 2.6%. I find this incomprehensible, especially when considering that the government has issued a CPI of around 6% for the year. What am I missing?
A friend told me he heard something about legislation being considered to actually 'adjust' fixed rate mortgages, but I have looked online and can find nothing.
I listen to lots of opinions on price inflation and they go both ways and both sides have good points. Most of the 'experts' believe the money is going to hell and quick. I am pretty much in the same camp. I see things may be a replay of the inflation of the 70's. I admit, I don't know much and my financial acumen seems kinda lacking; I mean, hey, I invested in gold and silver but I've watched the stock market go nuclear.