Negative rate: A file picture showing a Jyske Bank branch in Copenhagen. Early this month, the bank, set the lending rate for mortgages at an unbelievable interest rate of -0.5%. - Reuters
IS the world turning upside down or is it real? Early this month, Denmark’s third largest bank, Jyske Bank, set the lending rate for mortgages at an unbelievable interest rate of -0.5%.
Yes, no typo here. It is NEGATIVE 0.5%. Another bank in Denmark also set a new precedent. Nordea Bank, is now giving 30-year home financing at 0.5% while 20-year loan at zero rate. That’s right, ZERO.
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