Page 5 - Teaser Rate News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Soon enough, and by the way, maybe it's not soon enough but maybe 2019 or the end of 2019 before middle class americans start to figure out that this was a teaser rate. lots of people got a little tax cut for little while while companies got the biggest tax cut that we have seen in modern history. and at what point and how do democrats capitalize on this? because the president has come out day after day championing this as a middle class tax cut. >> yeah. what's fascinating is donald trump has been, i mean, just to say it, lying about this legislation for months. and the american people saw th...

Gene, i guess the issue here is, we have to fundamentally let people know what this is. this is a deficit funded, largely corporate tax cut. the part that is cut for regular people, for individuals, particularly those in the middle class, is akin to a teaser rate on a mortgage or a credit card. right? you get -- something good happens for a year or two, and then it suddenly changes, and people in the middle class will end up paying more in their taxes. so it is just disingenuous for this to be called a middle class tax cut? >> no question about it. it's very disturbing when you think about the...

Middle class to the short term will expire in 2027. >> we've got all sorts of analogies that we can use but one of the better ones that i've heard is this is like a teaser rate on a credit card or a mortgage. it feels really good at the beginning, you'll see a small cut, most families will. over time any benefits, generally for those earning less than $75,000 get dialed back and you could see your taxes go up in a few years as a result, but that is not true generally speaking for the rich and certainly not true for any corporations. so i would just like to be honest about what this is. this is...

Mortgage at home, maybe not a 30-year fixed, but some sort of arm, savings, et cetera, what does this mean for them? >> you're probably in the next six weeks, your rates are going to go up, you will pay more per month. as soon as i saw this, i said i recognize i've got a variable incredibly low teaser rate, and i'm going to have to lock it in the next couple of months, because i can't afford to have this rate go up over and over again. but a year from now, you'll be paying a lot more than you are now. >> so even though this is a quarter point, barely not much at all, mortgage rates will just s...

Conference? out of $7 billion. we'll let the homeowners get $2.5 billion. after that, they should get something. we'll take the lion's share of this money. there are so many narratives to this thing, it is really outrageous on every single level. it really is. >> so the banks get punished for something that was really a triangle. in order to make this housing crisis happen, you had the banks, fannie mae and freddie mac, scott-free in this, then some homeowners who never should have signed up for loans that they got. >> a lot of these homeowners weren't victims. a lot of people, well, they got ...