3 ms·
The previous generation? My recollection is that our first mortgage 30+ years ago was around 6%, ARM. That is somewhat lower than it is now, but not lower than
by cafard 3y ago
The previous generation? My recollection is that our first mortgage 30+ years ago was around 6%, ARM. That is somewhat lower than it is now, but not lower than the last several years.
(I will add that we got some money from my mother-in-law to get up to a 10% down payment. Less than $10K, I think.)
- lawlessone 3y ago>was around 6%, How much was the house and how much do they sell for in your area now ?(approximately)
- cafard 3y agoAbout $180 K, now about $500 K. We bought within a year of the market peak, and it was ten or more years before the prices returned to what they had been. At one point early in those years, my sister-in-law, in for a visit, remarked that a lot of the for-sale signs looked familiar from her previous visit. (Around a year.)
- ofjcihen 3y ago“6% of what” is where the answer lies.
- dhdudbd 3y agoyeah? you take out a loan for a toothpick and a couple of dimes at 6% APR? the problem is inflated asset prices combined with low wage growth combined with high interest rates. now i have some avocado on toast to finish
- throwawaymaths 3y agoIn the 80s it was 12%, 90s 6%, then in the 20-somethings 3% Plus dropping interest rates also does cause economies to overheat so there is job creation.