Banking's next gift: End of 30-year mortgages?

It's complicated, but there are reasons that banks would want to end granting 30-year mortgages, a popular option for many home-buying Americans. You'll have to read through this entire article to get the picture.

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  • I guess (1) I'm not going to log in, and (2) as far as I can tell, banks have gotten out of the mortgage business already, in that most of the paper is still being sold to Freddie and Fannie.

    Of course, banks have also gotten out of the business of paying interest. They think that they can sell securities to me, but I tell them that I'm with Fidelity. Now, if Ned Johnson could come up with a new message other than long term, diversify, and dollar cost average, but I guess he's too old.

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