Higher Interest Rates Splitting the Economy in Two
Big corporations and existing homeowners reap the benefits as smaller companies and prospective homebuyers are on the outside looking in.
The 30-year-fixed rate jumped to almost 7.5% on Tuesday — the highest since 2000.
The CEO of Corporation No. 1 is I-Take-a-Corporate-Jet-to-Dinner rich. This company was “able to lock in low interest costs during the pandemic via fixed-rate, long-dated bonds, and since then earnings on their cash deposits have soared,”
Jessica Karl Bloomberg 24 augusti 2023
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