The Mortgage Professor: Escrow Can Raise Costs, but Add Simplicity

(MCT)—Why did Jones pay more for his mortgage than Smith? One possible reason is that they borrowed at different times, when market conditions were different. Right now, the market is very favorable, but mortgages priced at 3.5 percent today were priced at 17 percent in 1980. There is nothing borrowers can do to affect the [...]