No, 30 year terms are fixed interest. They all used to be that....

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    No, 30 year terms are fixed interest. They all used to be that. So the banks won’t gain if rates rise. I didn’t realise they were coming back. Too much risk for the banks lending long and borrowing short.

    But I think that we’ll have low, low rates for a long time. If you have to pay 5 or 6% for a thirty year mortgage, I think that’s silly.

    The real problem with bank financials now is that the rules and regulations are so complex that you need to be an expert to understand ..... well, understand that they don’t disclose some huge numbers anymore, such as the notional value of derivatives for example which, being in the trillions, dwarfs any other numbers in the accounts.

    Being worried about lending margins, loan provisions, liquidity ratios ... pfft. If they get their derivative books slightly wrong, they’re toast. Overnight.
 
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