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Is raising interest rates to "fight inflation" an under cover way of just paying big banks more?
Interest rates are up, housing prices are down. In the end the buyer pays the exact same monthly payment.
The only difference is that banks take in the $100K or so that the house went down in value now in the form of interest.
Sure, bidding wars are a thing of the past but aside from that monthly payments really haven't gone down much after an interest rate hike.
The only entity an increased interest rate benefits is the all cash buyer or a big bank. I don't want to support either of these entities.
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- 2 years ago
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