Why Does Bernanke Want Mortgage? Low Rates and Tax Breaks
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Ben S. Bernanke says he can’t refinance his house. With his book advance and speaking fees, why does the former Federal Reserve chairman even want a mortgage?
Even for the wealthiest Americans who can afford to buy their houses outright, mortgages come with a double benefit: interest rates low enough that returns on investments can beat them, and a tax subsidy that covers nearly half the interest cost.