Denmark’s 3rd Largest Bank Is Now Paying People To Take Out A Mortgage

August 11th, 2019

In other news: Gold at All-Time Highs in 73 Countries.

Via: ZeroHedge:

Well for Denmark, the future is now, because three years later and with over $15 trillion in negative-yielding debt around the world, Denmark’s third largest bank is now offering borrowers mortgages at a negative interest rate, effectively paying its customers to borrow money for a house purchase.

Jyske Bank said this week that customers would now be able to take out a 10-year fixed-rate mortgage with an interest rate of -0.5%, meaning customers will pay back less than the amount they borrowed, or precisely what we said would happen in our 2016 preview of the dystopian future.

And here we are, with banks now praising – and paying – debtors, whose loans are automatically repaid, while crushing savers who have to suffer negative interest rates on their deposits.

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