Mark Zuckerberg Got a Sweet Deal on His Mortgage [REPORT]

Mark Zuckerberg got a sweet deal on the $5.95 million mortgage on his Palo Alto, Calif., home with an interest rate of just 1%, according to a report.

Bloomberg examined public records for the property and found the Facebook CEO's 30-year adjustable rate mortgage starts at 1.05%. The average rate on a one-year adjustable rate mortgage was 2.69% on Monday, according to FreddieMac. The 30-year fixed rate was around 3.79% on Monday.

Zuckerbergs 1.05% rate began in May. However, the loan adjusts each month starting in June with the rate calculated by the London Interbank Offered rate (Libor) plus 0.8% percentage points, according to Bloomberg. The rate can't exceed 9.95%. Monthly paym…
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