I’m reading that the government is thinking about a freeze on interest rates for those who are facing a big increase of their variable-rate mortgages. The plan is to force banking institutions into moving these people to other mortgages.
Millions of low-rate mortgages were issued and are about to kick in with the higher rates spurring fears of a drove of defaults. So the Feds and bankers are looking for a program to help these people out.
How about a literacy program? Continue Reading…