Rich Mortgage Borrowers Aren’t Getting the Best Rates Anymore, and It’s the Fed’s Fault
Sheila Smith was set to get a mortgage for about $750,000 to buy an investment property in Sedona, Ariz., earlier this year. The lender, a regional bank, offered a starting interest rate of about 5%, well below the going rate.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8