The Mortgage Bankers Association’s slow, self-serving defense of the 30-year mortgage proves that lifetime debt, not homeownership, is the product they’re really selling.
Tag: Consumer Lending
This guest commentary was written by Ed Harris, CEO of Harris Northwest Advisors and a Visiting Contributor at the Southwest Public Policy Institute. In his argument about APR, Patrick Brenner is wrong but inadvertently correct on a larger point he doesn’t address. An APR calculation is mathematically accurate. Most fixed-rate 30-year mortgages are priced similarly, […]