My last 30 year mortgage was at 2.375. I have since sold that home and never plan on buying in the US again.
this post was submitted on 15 Sep 2024
95 points (99.0% liked)
News
38158 readers
1654 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source. Clickbait titles may be removed.
Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.
7. No duplicate posts.
If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners or news aggregators.
All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 3 years ago
MODERATORS
The average mortgage rate in 1982 was 16.04%.
....
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.
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.