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My last 30 year mortgage was at 2.375. I have since sold that home and never plan on buying in the US again.
The average mortgage rate in 1982 was 16.04%.
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I also wanted to contribute random remarks.
I bet the house was around 100k ish so 325k with inflation. Avg house cost is 600k now. Yeah either way im screwed I guess.
Mine wasn’t that good, but 70K at 3.1 is much better than things are today.
U.S. housing market is fucked.
It’s not really. It went up quickly and stabilized. Rates are still near historic lows. This nobody is going own a home bullshit needs to stop. It’s just false.
Yeah, totally reasonable for prices to double, and rates to triple and then housing prices stay at elevated levels and never dip with higher rates. I for one welcome our wall street
overlandlords with open arms.Not to mention property taxes have skyrocketed in my area. The rent soar is not yet done soaring. People are just getting hit with these taxes now.
Removed by mod
This comment does not make any sense.
I was lucky enough to have bought a house at 6.85%. Im looking forward to cutting my interest rate
Our rate is 5% when we bought so fucking still to high for us refinance and get some equity out of our home.
The following was removed for misinformation. The coward ass mods should at least be forced to identify which part of the truth they are trying to cover up. Ban me, I’ll be back in a day with a new name.
Prices didn’t double and yes rates tripling from historic lows is fine. Home ownership rates are up from a dip with millennials. Gen z is about on par with gen x. According to the Census Bureau, 38.6% of those under 35 are homeowners; 62.6% of those aged 35-44; 70.5% of those aged 45-54; 75.7% of those aged 55-64; 79% of those over 65. We should certainly try to make home ownership more attainable but it’s far from the hellscape and hyperbole.
