Hi DJ, HK mortgage is floating on monthly basis with no cap and no bottom, and now at 4.25% as notified by bank a few days ago for this month. Given HK banker's preference to use retail loan customers as a big pool of floating rate Certificate of Deposit, my mortgage is necessarily small, what with occasional requirement to defend ourselves against the Soros of this world, jacking up overnight rate to 1000% and such (no, luckily, mortgages have never been jacked up thus, else no point defending ourselves if it is going to kill everyone of us on the island).
At some point I will draw on my Japanese Yen revolver and shoot my HK mortgage, Philippine peso revolver and terminate global equities, and Indonesian Rupiah revolver and blow away distressed high yield bonds. The Indonesian revolver may never have to be returned in anything format I recognize.
How is your mortgage structured ... fixed, variable, capped, or helterskelter like in HK?
Chugs, Jay |
