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re: The average 30-year fixed mortgage rate jumps to 7.50%
Posted on 4/16/24 at 1:53 pm to stout
Posted on 4/16/24 at 1:53 pm to stout
So glad I refinanced for 10 years at 2.25% a few years ago.
My first house was 30 years at 8.5% in ‘97.
After 9/11 we all got spoiled on low interest rates. A loaded out truck could be had for $25k at around 5-6%. Then rates dropped but prices soared. The powers that be are going to get theirs but now rates are skyrocketing as well as prices. The wiggle room isn’t there to play games now.
My first house was 30 years at 8.5% in ‘97.
After 9/11 we all got spoiled on low interest rates. A loaded out truck could be had for $25k at around 5-6%. Then rates dropped but prices soared. The powers that be are going to get theirs but now rates are skyrocketing as well as prices. The wiggle room isn’t there to play games now.
2
Posted on 4/16/24 at 1:56 pm to Allister Fiend
quote:
So glad I refinanced for 10 years at 2.25% a few years ago.
Because of my divorce, I had to refinance my house. Originally, I had 6 years left out of 15 to pay. My rate was 2.875 %.
I refinanced in January 2022, and got a rate of 2.5 %. Now, I have 13 years left to pay.
It sucks to start over, but when I look at my situation and see what others are faced with today, I am very fortunate to have the rate I have today.
Posted on 4/16/24 at 2:31 pm to Allister Fiend
7.50% with current prices is just insane.
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