[Diana in Wisconsin]

I can’t even imagine having that kind of a mortgage payment. I just about had a heart attack when our cropland mortgage went from 3% to 5% after Brandon was selected. *SPIT*

One more year to go and the ENTIRE farm will be mortgage-free...less if I have my way.

I’m sure Mother Government will find some other way to screw us over in our Golden Years, though. :(

[SamAdams76]

The headline can be a bit misleading. If your fixed-rate mortgage was $1,722/mo under Trump, it is still at that today.

I think the article is actually stating that due to the rise in interest rates, anybody BUYING a similar home today would be subject to the $3,322/mo rate, all other things being equal with the mortgage you would need to take out.

Basically if you own a home now with a fixed mortage, stay put. Otherwise, if you must sell now, try to ensure that you do not need a mortgage for your next home.

As I approach my own retirement, I will be in that situation. I will need to ensure I am paying cash for my next (and perhaps final) home, even if I need to downsize very significantly.