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re: interest rates on home mortgages wont fall anytime soon
Posted on 7/25/23 at 4:17 pm to Hangover Haven
Posted on 7/25/23 at 4:17 pm to Hangover Haven
quote:
When I purchased my first house in ‘97 the APR was 7%… I’m a Gen Xer.
When my brother purchased his first house in 1981 the APR was 16%…
yea, interest rates right now are much lower than what i had to pay when i got into the housing market back in the mid 70's. morgages were in the 12-16% range. and we didn't blame our parents for that. the uber low interest rates we were recently experiencing were the outliers.
as a boomer i'll just say stfu and quit whining. and you may want to take a course in economics (not you, the OP). Joe Biden, like any president has no control over intereset rates.
1
Posted on 7/25/23 at 4:18 pm to Coldcushcush
quote:How much was that house? And what is it worth now?
yea, interest rates right now are much lower than what i had to pay when i got into the housing market back in the mid 70's. morgages were in the 12-16% range.
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