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RussBLib

(10,003 posts)

10. A 7% rate is not all that high, historically speaking

Reply to mahatmakanejeeves (Original post)

Wed Jun 25, 2025, 05:51 PM

Jun 25

We bought a house with a 21% rate back in 1982, then refinanced it several times to get it eventually down to 9%, and we were happy to pay it. If people need a house, they will buy, pretty much regardless of the rate.

I think the hindrance these days is all of the uncertainty put out there by the orange parasite.

Then again, you know what they say: past performance is no guarantee of future results.

https://russblib.blogspot.com/?m=1

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LovelyStuff

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Highlight:

Sales of new homes tanked in May, pushing supply up to a 3-year high [View all] mahatmakanejeeves Jun 25 OP

It cannot be explained as only due to mortgage rates, which haven't changed enough. . . . nt Bernardo de La Paz Jun 25 #1

flippers enid602 Jun 25 #2

PE Buyers are struggling WSHazel Jun 25 #6

Doesn't help that the average home price is somewhere around $300,000. mwmisses4289 Jun 25 #3

I sold my house in preparation for moving out of the country sdfernando Jun 25 #11

People know Trump's tariff taxes haven't fully hit yet. Mawspam2 Jun 25 #4

Homes are overpriced WSHazel Jun 25 #5

They have been overpriced for fifty years. valleyrogue Jun 25 #13

Maybe I will be able to afford a house, after all. intheflow Jun 25 #7

and here I thought no sales means the price is too high and should be lowered lol nt msongs Jun 25 #8

Greatification Is HERE. Don't mind our noise and dust. BurnDoubt Jun 25 #9

A 7% rate is not all that high, historically speaking RussBLib Jun 25 #10

What it is? Jughead Jun 25 #12

Higher taxes and sky high insurance are putting leftyladyfrommo Jun 25 #14