To: Browns Ultra Fan
Oh wait. Mortgages rates were 9.5% in the 80s. I guess we'll survive.
5 posted on
01/13/2022 8:11:44 AM PST by
Seruzawa
("The Political left is the Garden of Eden of incompetence" - Marx the Smarter (Groucho))
To: Seruzawa
“Oh wait. Mortgages rates were 9.5% in the 80s. I guess we’ll survive”
5-6% was average ten years and we survived just fine.
Instead of buyers buying that $400k mcmansion they will downgrade to the $375k mcmansion without the home theatre and man cave. The horror.
8 posted on
01/13/2022 8:17:56 AM PST by
setter
To: Seruzawa
Oh wait. Mortgages rates were 9.5% in the 80s.
Was just going through my late FIL's paperwork/documents, etc, yesterday.
Discovered he took out a 25 year mortgage in 1988 at 9.2%. Yeow!
10 posted on
01/13/2022 8:19:15 AM PST by
oh8eleven
(RVN '67-'68)
To: Seruzawa
“Oh wait. Mortgages rates were 9.5% in the 80s. I guess we’ll survive.”
My first real estate sale in 1984, interest rate was 12.5%.
14 posted on
01/13/2022 8:41:13 AM PST by
SaxxonWoods
(If It Aint Woke Don't Fix It.)
To: Seruzawa
I miss Hydroshock
18 posted on
01/13/2022 9:10:00 AM PST by
Roccus
(First we beat the Nazis........Then we defeated the Soviets........Now, we are them.)
To: Seruzawa; SaxxonWoods; oh8eleven
Ran across this graph at creditdonkey.com. I'm sure various sites will have slightly different average rates, but this matches what I remember from late 1982 when purchasing our current house. 30 year fixed rates were running about 15% or more in our area.
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