Why Bernanke Cannot Refinance His Home

The video discusses Ben Bernanke's attempt to refinance his mortgage despite having a high income from speeches and a book contract. It highlights the challenges he faced due to the lack of steady income, as evaluated by computer systems. The video also explores potential reasons for his refinancing attempt, such as testing the banking system or adjusting mortgage terms. Additionally, it touches on the broader implications for the housing market and the difficulties in obtaining loans post-crisis.

What was the original purchase price of the man's home on Capitol Hill?

• $965,000

• $830,000

• $839,000

• $672,000

Why was the man unsuccessful in refinancing his mortgage recently?

• He had too many loans.

• He had a high credit score.

• He lacked steady income.

• His home value decreased.

What is one of the man's sources of income despite being unemployed?

• A government pension

• Stock market trading

• A book contract

• Real estate investments

What is a reason banks are hesitant to make loans, according to the transcript?

• They are investing in technology.

• They want to hold more capital.

• They have too many clients.

• They are focusing on credit cards.

What is the current refinancing rate mentioned in the transcript?

• 5.375%

• 4.22%

• 4.25%

• 4.5%