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<blockquote data-quote="Davy Crockett" data-source="post: 148666" data-attributes="member: 367">I've said this before but it's a good thing the interest rates are down or she would be a world of hurt . &nbsp; Copy and pasted &nbsp;&quot;Imagine paying over 18% interest on a 30-year fixed mortgage. It’s almost unthinkable. But that was the reality for home buyers in <a href="http://www.freddiemac.com/pmms/pmms30.htm" target="_blank">October 1981</a> – a year when the average rate was almost 17%.Unlike today, in the early 1980s, the Federal Reserve was waging a war with inflation. In an effort to tame double-digit inflation, the central bank drove interest rates higher. As a result, mortgage rates topped out at 18.45%.&quot;&nbsp; &nbsp; We are living in financially better times than the last time the bottom fell out,&nbsp; &nbsp; At least nowadays&nbsp; when you make a loan payment you are putting a big dent in the principle.</blockquote>

[QUOTE="Davy Crockett, post: 148666, member: 367"] I've said this before but it's a good thing the interest rates are down or she would be a world of hurt . Copy and pasted "Imagine paying over 18% interest on a 30-year fixed mortgage. It’s almost unthinkable. But that was the reality for home buyers in [URL="http://www.freddiemac.com/pmms/pmms30.htm"]October 1981[/URL] – a year when the average rate was almost 17%.Unlike today, in the early 1980s, the Federal Reserve was waging a war with inflation. In an effort to tame double-digit inflation, the central bank drove interest rates higher. As a result, mortgage rates topped out at 18.45%." We are living in financially better times than the last time the bottom fell out, At least nowadays when you make a loan payment you are putting a big dent in the principle. [/QUOTE]

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