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Adjustable Mortgages – A wrong option for commoners is perfect for US Billionaire Mark Zuckerberg!

Ajustable Mortgages - Best Rates For High Net Worth Borrowers

Ajustable Mortgages – Best Rates For High Net Worth Borrowers

According to the recent news reported by Bloomberg, Mark Zuckerberg successfully managed to refinance his mortgage with First Republic Bank in the U.S earlier this year. The Facebook founder refinanced a $5.95 Million (USD) mortgage on his home with a term of 30-years adjustable-rate loan, starting at 1.05% rate.

It is definitely a perk for Billionaire Zuckerberg, as he scored an adjustable-rate loan that started with a 1.05% rate in May.

This year the lending rate has reached a record low. The borrowing cost is comparatively lower for big shots like Zuckerberg. According to the latest report from the US Labor Department, it estimates a 1.7% inflation rate till May 2013. Although it is considered to be a modest rate, it can still pinch pockets as the US dollar is losing value much faster.

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