>>>How low can we go......
>>
>>Or how 'up' can we go ;
>>
>>Today received letter from the bank right here in Cyprus
>>
>>Dear Sir
>>
>>Due to global financial turmoil and ....blah... we hereby inform you that interest rates as from now on are ...
>>
>>All accounts/loans were hit. Big increases on rates. Will access the damage at the end of the month when new installments
>>are due.
>>
>>Thank you Mr Greenspan
>
>So, Greenspan is somehow responsible for you taken interest-adjustable mortgage in a Cyprus-based bank? What rate do you pay now?


Everybody takes interes adjustable mortgages but jumps were never big like this. So now you gonna say that whole world is stupid
and have to pay for US financial mess because people did not take fixed rate loans ??

As for rate;
I don't even know exactly. They increased bank margin on housing loan from 1.70 > 3.70
I knew that loans fluctuate based on central bank rate, but bank margin ??
Will have to check with bank tmrw ...


Not solely Greenspan fault for sure, but not everybody elses eighter.