"Oren" wrote in message

On Thu, 05 Jun 2014 11:59:08 -0500, Moe DeLoughan
wrote:

If your home mortgage rate is 5% or less, congratulate yourself on
paying less than your parents and grandparents did.
If it's under 4%, buy yourself a beer. Historically, that is an
outrageously low rate for a home mortgage.

I'll take that beer

"...in the early 1980s, mortgage interest rates brushed the
stratospheric highs of 18 percent and even 19 percent. Imagine trying
to get a home loan with an interest rate of 18 percent." Bankrate.com

I mistakenly said 20% the other day...

Eh, what's 2% among friends

Those high rates weren't all bad as long as you weren't a borrower; if you
were a lender, they were golden. I had some tax free bonds paying 13%;
unfortunately, they were callable and called they were but I got 2-3 years
out of them first.

One answer for the high mortgage rates was to extend the term. In Japan,
they were writing 150 year mortgages...daddy's gift to future generations.

--

dadiOH
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