Posted on Apr 8, 2022

Mortgage rates just hit 5%. Buying a home has become a lot more expensive

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https://www.npr.org/2022/04/08/ [login to see] /mortgage-rates-just-hit-5-buying-a-home-has-become-a-lot-more-expensive
All I can say is for most of my adult life 5% would have been a dream mortgage. I can remember 10-12-15% notes. The original on where I've holed up for the past 24 years was 7.5%.
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Mortgage rates just hit 5%. Buying a home has become a lot more expensive

Posted from npr.org

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Economy

Mortgage

Home Loan

Posted 2 y ago

Responses: 4

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Lt Col Charlie Brown

Posted 2 y ago

So glad my son got his at 3% but just wait...it's going up a lot more before we're done. If you have an adjustable...get out of it now if you haven't already

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SFC (Join to see)

2 y

Great advise ma'am. I have mine at 2.875, we felt really lucky to get a rate that low.

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PFC (Join to see)

Posted 2 y ago

This must have been during the early to mid 80's when the federal reserve hiked rates up to almost 20% I believe on certain loans.

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SFC (Join to see)

2 y

Wow! I don't remember them that high. A friend of mine built in the late 80's and his was 8% and change.

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CPL Douglas Chrysler

Posted 2 y ago

CD rates still .01%

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Mortgage rates just hit 5%. Buying a home has become a lot more expensive

Mortgage rates just hit 5%. Buying a home has become a lot more expensive

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