Re:Who died and left the US $7B?
by ryandrake on Wednesday October 09, 2024 @03:26PM
(#41791700)
> I don't know that I've seen a lot of details, but I didn't realize the rates were supposed to be less than benchmark rates.
I know someone who got a mortgage rate way, WAY below prevailing rates (like less than 1%, gotten back when normies like us got rates around ~3%), because 1. he is a very high net worth individual and 2. he owns a business that does a lot of business with the bank. So, he gets extra special treatment because he's rich and the bank appreciates his business and expects the relationship to lead to even more business.
It's not a huge stretch to imagine that Jeff Bezos's bank would happily loan him money at some token 0.01% interest rate or some similar sweet deal.
I know someone who got a mortgage rate way, WAY below prevailing rates (like less than 1%, gotten back when normies like us got rates around ~3%), because 1. he is a very high net worth individual and 2. he owns a business that does a lot of business with the bank. So, he gets extra special treatment because he's rich and the bank appreciates his business and expects the relationship to lead to even more business.
It's not a huge stretch to imagine that Jeff Bezos's bank would happily loan him money at some token 0.01% interest rate or some similar sweet deal.