Really the prudent are being rewarded? Hmmm lets examine that for a second. I am the definition of prudent and I am most certainly not being rewarded.
I have lived within my means for 10 years, have zero debt and a high savings rate. I have suffered the damage of inflation year after year, cannot afford a house and now am most likely going to lose my job in the next 6 months. A job at a company I really like.
These low mortgage rates only reward people because they were lucky enough to buy at a relatively low price point (due to that inflation) which means they weren’t prudent, just older. The prudent are the ones who get screwed six ways from sunday.
10% mortgage rates would be the reward for the prudent. 18% mortgage rates would be a gift from dog for the prudent. 5% rates for people who bought before this inflation cycle is just lucky, unless you are going to tell me that those people were prescient enough to know how this was going to unravel. In that case they weren’t just prudent they were amazing.
