It's never easy to understand exactly what Alan Greenspan means when he makes his periodic Delphic statements about the financial system. But the Federal Reserve chairman set a new whazzat? standard recently when he suggested that the millions of homeowners who proudly hold a fixed-rate mortgage--roughly 80% of all those with a mortgage--are committing a financial blun-der that may cost them thousands of dollars a year.
Huh? Interest rates across the board are near 45-year lows. How could it be a mistake to lock in a low rate now and know your monthly principal and interest payment will never rise?
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