Some great points here!
We think that it’s starting to look risky to hold HBD here due to looming haircut and so a bunch of conversions will likely happen regardless of the HBD APR. we also don’t think that the APR will get down to 6% anytime soon, but it is starting to become a major factor in inflation another 2 cents Lower from here and it will become significant. Maybe it will work out that as we move back into a bull, the HBD APR will be slowly decreasing as you say it should be above (which we would also like to see).

Respect and value ur opinion as always Demotruck. Appreciate the comment