Whose Fault Is It?
I wrote earlier this year that my own variable-interest mortgage rate always seemed to go up and never seemed to come down. As a result of the letter I was inundated with people who had the same complaint, and I recollect you published an article on the subject.
In the Aug. 13 issue of the Wall Street Journal was an article which states, “fixed-rate mortgages are swamping adjustable-rate mortgages.” The article explains why this trend is not good for the lenders, i.e. being tied to a portfolio of fixed-rate mortgages.
I ask, whose fault is this? If the lenders would respond fairly, there should be a good demand for the variables, but over the years they have been taking the “couldn’t care less attitude.”
HERMANN P. SCHLANDER
Pasadena
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
