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To: rhombus

It seems like we had double-digit interest rates for quite awhile, IIRC. I was not paying a mortgage then, but payments must have been awful.


13 posted on 11/28/2007 7:02:47 AM PST by Sender (You are the weapon. What you hold in your hand is just a tool.)
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To: Sender
It seems like we had double-digit interest rates for quite awhile, IIRC. I was not paying a mortgage then, but payments must have been awful.

I bought my first home in 1984 via a state-run first-time-homebuyer program at "only" 9.5% and I considered myself the king of the world for getting that rate.

The house was only $60K or so, which was not orders of magnitude greater than my salary at the time, so the payments didn't cripple me. I think my car payment was 14 or 15% as well.

Every time I see people begging and crying for cuts from current rates I just shake my head.

29 posted on 11/28/2007 7:33:06 AM PST by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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