Whose Fault Is It?

I wrote earlier this year that my own variable-interest mortgage rate always seemed to go up and never seemed to come down. As a result of the letter I was inundated with people who had the same complaint, and I recollect you published an article on the subject.

In the Aug. 13 issue of the Wall Street Journal was an article which states, “fixed-rate mortgages are swamping adjustable-rate mortgages.” The article explains why this trend is not good for the lenders, i.e. being tied to a portfolio of fixed-rate mortgages.

I ask, whose fault is this? If the lenders would respond fairly, there should be a good demand for the variables, but over the years they have been taking the “couldn’t care less attitude.”

HERMANN P. SCHLANDER

Pasadena