Comments on: Why thirty years is the default for mortgages

By: payday loans

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By: bad credit loans

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By: John736

John736 — Mon, 21 Sep 2009 12:10:06 +0000

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By: Finance Nerd

Finance Nerd — Mon, 09 Mar 2009 21:35:47 +0000

But didn’t we stop selling the long bond for a while in the 1990s? I thought we did because of the budget surpluses. Even when that was going on, they were able to make a market in 30 year mortgages, so I wouldn’t think that alone could explain it, but it might provide part of the answer.

By: JTapp

JTapp — Mon, 09 Mar 2009 20:32:58 +0000

“Is it better to commit to a quicker payoff, since that commitment will make it more likely that you actually do it?”

I think yes; there are some economic articles specifically related to this and I’ll try and find them. Anytime you have an option to cheat, you’re going to. Whether it’s diet/exercise or paying off your credit card in full every month, etc.

Am I wrong to think that 30 years may be the default (instead of n>30) because of expected interest rates? The long bond is the only predictor I know of long-term interest rates and it only goes 30 years out.

By: Finance Nerd

Finance Nerd — Wed, 04 Mar 2009 16:43:04 +0000

Thanks, NDP. I really enjoyed that article, so I am glad I was able to take it in a different direction while still focusing on the original topic.

By: No Debt Plan

No Debt Plan — Tue, 03 Mar 2009 21:02:45 +0000

GREAT article. Good stuff man. Will link back to you during my next link round up.