467
CEO who fired 900 people on Zoom just before Christmas wants his job back (www.cnn.com)
submitted 2 months ago by to c/nottheonion@lemmy.world
35 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] 7 points 2 months ago (4 children)

Maybe I'm stupid, but how does a mortgage company lose valuation when premiums increase?

Like hello, your returns are now greater than before. Did they make some AI calculation, for locked interest rates for their customers and then financed it by taking on fluid interest rates as a company?

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 4 child comments
    •
  • [–] 9 points 2 months ago* (3 children)

    Their whole business model was based around getting people to refinance. When rates are up, people don't refinance.

    US mortgages are almost always fixed-rate, so increased interest rates don't change the premiums for existing mortgages, hence the drive to refinance when rates are low.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 3 child comments
    •
  • [–] 1 point 2 months ago (2 children)

    US mortgages are almost always fixed-rate

    A lot of them are variable-rate which is just insane. You're allowing your mortgage lender to charge you whatever interest rate they feel like charging, with your only out being the hassle of refinancing.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •