I just committed to a house mortgage 2 months ago, and currently servicing it. Yesterday, the bank I have borrowed money from has decided to hike up the interest rates. This year alone, it's a 4th time if I am not wrong!!!
This is scary. The government has no control over the private banks. The bank made few billions in the last quarter report. There are no mercy. People used to tell me, this is a world of 'dog bite dog's bone'. I know exactly what it means now and I am completely compelled. I know nothing is free, but to push you to an edge, it's just amazed me. The stronger and richer one may say, 'Welcome to the real world'.
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