Zuckerberg refinances home at 30 year 1.05% ADJUSTABLE rate mortgage

[ProdigyofZen]

http://www.bloomberg.com/news/2012-0...mortgages.html

The Facebook Inc. (FB) founder refinanced a $5.95 million mortgage on his Palo Alto, California, home with a 30-year adjustable-rate loan starting at 1.05 percent, according to public records for the property.

At least he has the capital to pay off the loan in full when interest rates are 20%.

[DSpencer]

Re: Zuckerberg refinances home at 30 year 1.05% ADJUSTABLE rate mortgage

I guess the bank makes money on closing fees and the fact that they basically create the money for free anyway?

[lektrode]

Re: Zuckerberg refinances home at 30 year 1.05% ADJUSTABLE rate mortgage

would say thats a perty good bet that even he believes the feds ZIRP policy is fraud and that this has NOT been led by a 'muted inflationary environment', eh POZ?

o/w why wouldnt he just pay cash and save all the fees?

wonder how long it will take for his employees to discover that they wont be getting rich off stock options any time soon and will start to SCREAM for wage increases to offset the bernank's little scheme to pump up the 'federal' reserve members' 'profit' margins...