Quote:
Originally Posted by manaboutown
3% on a 30 year mortgage was a once in a lifetime opportunity IMHO. 6% has been the norm during my lifetime. I remember rates as high as 17%.
|
I agree. But prices were much more reasonable then. We had a 10.25% mortgage on our first house (in 1986). Of course, we only paid $104,500 for a 3 BR 2.5 BA single family home... About 25-30% of my income at the time...
The PITI was less than our 2 BR 2 BA apartment...