re: interest rates on home mortgages wont fall anytime soon

They really aren’t that high when you look at it from a historical perspective. It’s more of a function that everyone believed historically low interest rates of 2-3% are “the new norm.” When I bought my house 15 years ago my initial mortgage was approximately the same rate that banks are offering today. Ironically back then these were historically low interest rates that led to the housing/financial crisis of 2008. Now those same rates are considered super high and creating a looming financial crisis.

quote:

---

Interest Rate in the United States averaged 5.42 percent from 1971 until 2023, reaching an all time high of 20.00 percent in March of 1980 and a record low of 0.25 percent in December of 2008.

---