Issue Spreads in the Debt Conversation

There's essentially two different kinds of debt that you can get. There's fixed rate debt and there's floating debt. When the Fed raises interest rates, your mortgages go up but they are not directly correlated with each other. The first component is called SOPHRA because it tends to be a little lower than the Fed Fund's rate. So today, right now, I think it's 4.75 to 5%. And most people look at the lower range by the way, when they talk about 3% or 4%, which is so far away from what we're seeing in this case.

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