Mortage loans have lower interest rates(and lower risk to lenders) than automobile loans why?
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Two reasons…. You can’t drive your home away…. and two…. if you have a choice between a vehilce and a roof over your head… chances are you will pay your mortgage first.
More probable answer:
Homes generally appreciate whereas cars usually depreciate. Therefore, the lender for the house has some certainty that they can get their money back over the long haul. The lender on the car is pretty sure they will not.
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