Quote:
Originally Posted by Normal
9% on a home loan was affordable?
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It was, back in the day... I paid 10% on my first home in 1986. My PITI was less than my 2 BR 2 BA apartment. Granted, it was a started home ($104,500) 3BR/2BA, a single family, the size of a townhouse with a single car garage. I paid 9.5% on my 2nd home in 1991. Our 3rd home was 6.5% (15 year fixed) in 2004
But I remember rates well into the mid/upper teens in the early 80's...