Denmark’s 3rd Largest Bank Is Now Paying People To Take Out A Mortgage
August 11th, 2019In 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.
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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.
