I don't think mortgate rates ever broke 20% but were in double-digits. At that time, though, you needed about 20% down payment to qualify for a mortgage. So yo

I don't think mortgate rates ever broke 20% but were in double-digits. At that time, though, you needed about 20% down payment to qualify for a mortgage. So you weren't borrowing as much, and houses were smaller and cheaper. It was very difficult for many people to buy a house in those years.