Facebook founder Mark Zuckerberg (pictured) recently refinanced his Palo Alto home near the company’s headquarters with a 30-year 1.05 percent adjustable mortgage rate.
This has left many wondering why a billionaire such as himself, valued at around $15.6 billion (RM49.27 billion), would take out a loan for a US$5.95 million (RM18.79 million) house when he can buy it outright.
According to analysts, this is because US mortgage rates are at historical lows and Zuckerberg’s loan costs absolutely nothing.
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