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%.
SGT James Murphy, CPT Jack Durish,
SPC Gary Welch, SGT Mark Anderson,
CPL Douglas Chrysler, Maj Marty Hogan,
CSM Charles Hayden, SMSgt David A Asbury,
MSgt Robert "Rock" Aldi, SSG William Jones,
SSG Michael Noll, MAJ Dale E. Wilson, Ph.D.
SGM Erik Marquez, CW3 Harvey K.
SFC William Farrell, CPL Ronald Keyes Jr
Sgt (Join to see), SSG (Join to see)
1SG Dan Capri, LTC (Join to see)
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%.
SGT James Murphy, CPT Jack Durish,
SPC Gary Welch, SGT Mark Anderson,
CPL Douglas Chrysler, Maj Marty Hogan,
CSM Charles Hayden, SMSgt David A Asbury,
MSgt Robert "Rock" Aldi, SSG William Jones,
SSG Michael Noll, MAJ Dale E. Wilson, Ph.D.
SGM Erik Marquez, CW3 Harvey K.
SFC William Farrell, CPL Ronald Keyes Jr
Sgt (Join to see), SSG (Join to see)
1SG Dan Capri, LTC (Join to see)
Mortgage rates just hit 5%. Buying a home has become a lot more expensive
Posted from npr.org
Economy
Mortgage
Home Loan
Posted >1 y ago
Responses: 4
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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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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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