E*Trade is making news with a new product, a portable mortgage. Usually if you sell the house the loan is paid off. With portable mortgages you can take the loan with you, including the incredibly low 5.875% interest rate.
I bought my first house last year after calculating just how good a deal a home loan is. Now 16 months later I'm already refinancing, saving hundreds of dollars a month just by signing some papers. It's crazy.
The bad news is if we have a long deflationary period I'm going to feel real dumb holding all this debt. Or if we have a major earthquake, or if the insane San Francisco housing market finally collapses, or.. I've never felt so much like an adult as when I signed the loan papers.