Most of my life, mortgages have been over 8%. My first as over 18%. And for 100 years prior to the housing market crash, you could get 4.25% in any passbook savings account -- and that was 3% over the inflation rate. I'm finally making 5% again in the money market, with inflation running about the same. It ought to be more like 7-8% in this inflation. I can't imagine why anyone thinks a 3% mortgage is normal. For crying out loud, my grandfather's $5000 mortgage on his 2-bedroom 1910 Craftsman was 5%, 85 years ago!
Abnormal has been a disaster. How about we try NORMAL again?
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