Suddenly BB&T is pushing 3.49% home equity loans? This is troubling on several levels.
1. I thought banks were under orders to reduce their real estate exposure. 2. Anyone who currently has actual equity in their “home” must have a)bought in the 1990s or earlier and b)have the moral fortitude to have resisted the heloc marketing assault of the mid-decade and 3) BB&T must figure that even the smarter and more financially responsible people described in 2 above must now be so financially fricked that they are willing to leverage a wasting asset even as they approach retirement age.
I guess this is the financiers “mopping up operation” for the few of us who who escaped the primary assault wave.
[Edit: Correction: the 3.49% is for a home equity loan, not a HELOC. The HELOCs (home equity line of credit) go for 3.75%]