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What a moron you are. You refused to refi at about half the interest because you "pay off your interest in the first 15 years"? No stupid, you keep paying interest for the entire term.It's my money to spend as I see fit. Since our mortgage is fixed, our payments are less than a 2-bedroom apartment today. Besides, you pay off your interest in the first 15 years. We'd already paid that usuary fee when the rates dropped.
Edit: thanks for calling me stupid. I really appreciate that!
That’s a Biden voter for ya.What a moron you are. You refused to refi at about half the interest because you "pay off your interest in the first 15 years"? No stupid, you keep paying interest for the entire term.
And smart people refi at a lower rate and either keep the length of the loan the same, or shorten it. So you passed up paying half the interest for the next 15 years.
Yep, I'm calling you STUPID too, because you are.
A 7.5% mortgage rate is not normal, Trump proved that.30 Year Mortgage Rate in the United States averaged 7.74 percent from 1971 until 2023, reaching an all time high of 18.63 percent in October of 1981 and a record low of 2.65 percent in January of 2021. This page includes a chart with historical data for the United States 30 Year Mortgage Rate.
The extremely low rates under Trump were not normal at all, and the sign of a weak and fragile economy. Trump's economy crashed when they tried to raise rates to 2+% in 2018, then they needed to cut rates and start more QE. not good.
Biden has a strong and normal economy with a 7.5% mortgage rate that is still under the 30 year average. Trump had a weak and fragile economy that required weak low interest and mortgage rates. Trump's low interest and mortgage rates are a sign of a bad and weak economy.
United States 30-Year Mortgage Rate
30 Year Mortgage Rate in the United States increased to 6.87 percent in March 20 from 6.74 percent in the previous week. This page includes a chart with historical data for the United States 30 Year Mortgage Rate.tradingeconomics.com
Then give us averages from 1945 on, or you just doing what you think the OP is doing.You took your average starting in 1971, which is when the era of stagflation began. You've already rigged the result. U.S. history goes back to 1789, when the Constitution was signed.
Just admit you made a mistake, and next time….come to people who better understand that a 3% mortgage is better than a 7.5% - and that you can adjust the term to stay on the same schedule. No shame in that.I think that that's enough discussion about personal finances, so I'm out.
Amortization, you typically pay the most interest in the first years and less later but, you still pay it.What a moron you are. You refused to refi at about half the interest because you "pay off your interest in the first 15 years"? No stupid, you keep paying interest for the entire term.
And smart people refi at a lower rate and either keep the length of the loan the same, or shorten it. So you passed up paying half the interest for the next 15 years.
Yep, I'm calling you STUPID too, because you are.
There is a set amount you owe at any given time.Amortization, you typically pay the most interest in the first years and less later but, you still pay it.
I couldn't give you an average, but prior to the 70s mortgage rates were very low, on the order of 2% or less.Then give us averages from 1945 on, or you just doing what you think the OP is doing.
ill take my 2.9% mortgage interest rate over the 7% one the banker thinks are great....I couldn't give you an average, but prior to the 70s mortgage rates were very low, on the order of 2% or less.
The market is over valued. A result of artificially low rates. Equilibrium will return eventually.Only a leftard could take interest rates that have tripled and that are now pricing the middle class out of home ownership - and make it out as a wonderful sign of an improved economy under Biden.
The market is over valued. A result of artificially low rates. Equilibrium will return eventually.
Uh huh…The value is set, in large part, by interest rates.
When rates go up, the value goes down.
Your sense of history is short sighted. Go back to Jimmy Carter and come forward.You almost gotta laugh. The mortgage rate was around 2.5% about two years ago so it proves that the left's sense of history only goes back about 30 months.
Uh huh…
That’s what I said.
This thread has my vote for dumbest Dem spin thread of 2023. OMG 7.5% is so popular am I right. Dems bragging it up.Highest rates in 21 years.
Bidenomics is killing working folks.
