whatilearned
Read more: https://fred.stlouisfed.org/series/MORTGAGE30US
TIL: 30 year mortgage rates peaked in 1981 at 18.6%
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Read more: https://fred.stlouisfed.org/series/MORTGAGE30US
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That’s nuts. For a $100,000 house, your first year you’d pay $18,593 in interest, and at the end of the year you’d still owe $99,920.
Yeah, but the median home price at the time was about 3x the average American income. Now it’s 6.5.
In the 90s I consolidated my student loans at 8% and thought that was a great deal. Home loans were still double digits.