Rocket Mortgage to trim 8% of workforce as home-loan market shrinks

Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by mring33621 on Thursday April 28, 2022 @09:45AM (#31192365)

Thank you for your comment. I think this is interesting:

"Higher rates will make current prices unsustainable. As soon as they correct to the point where monthly payments are back to what they were last year, there will be buyers, only too happy to overextend themselves to get out of renting."

So, higher rates are effectively a transfer of wealth from homeowners to banks? How does this serve to combat the current inflation issue?

[ Parent | on HN ]

Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by lmt55 on Thursday April 28, 2022 @09:59AM (#31192530)

I don't understand how you draw this conclusion from what I said.

Regardless of high or low rates, banks borrow low and lend high, and live on the difference.

High rates, if you want to express yourself in those terms, a transfer of wealth from people with debt to people with assets.

[ Parent | on HN ]