First Denmark, Now Belgium Is Paying People To Take Out A Mortgage

• This article is talking about a bank’s existing home loan that is tied to a flexible, variable mortgage rate based on prime, LIBOR, 10yr Govt bond …. I seriously doubt any bank will make a fresh loan based on negative interest rates. They will go bust. (Negative interest rates are a sign of economic collapse!)
  –
• First Denmark, Now Belgium Is Paying People To Take Out A Mortgage
  by Tyler Durden, www.zerohedge.com  
  Back In January of 2015, we asked “who will offer the first negative rate mortgage?”
  –
  We didn’t have to wait long before Denmark’s Nordea Credit unleashed this idiocy. And now two banks in Belgium have followed suit, paying instead of charging interest on mortgages to a handful of customers. 
  –
  Thanks to Mario Draghi’s generosity with “other generations’ slavery”, the negative rate mortgage is now a reality. As Het Nieuwsblad reports (via Google Translate), 
  –
  Getting paid to borrow money for your house. It seems too good to be true, but for some clients of BNP Paribas and ING is not a dream but reality. The interest rate on their home loan is dropped below zero and so they get money from the bank.
  –
  For those who in 2012 closed a mortgage loan with a variable rate at BNP Paribas Fortis or ING are now very lucky. Due to a decline in interest rates, the interest rate on their home loan has also fallen below zero. In other words, the banks pay their customers rather than collect interest. This writes the newspaper De Tijd. 
  –
  When a loan with fixed interest rate you pay a fixed rate for the duration of your loan. But at a variable interest rate, the interest rate can change at any time, depending on the conditions on capital markets. The rate is now so low that is below the zero interest rates for some customers.
  –
  read more.

end