18% mortagage rate in 1981

[tyrion123]

mortagage rate was historical 18% in year 1981. It took 10 years to come to 10%.

20 years to 6 %.

40 years to come to 3%.

It is expected that current mortagage rate of 7.5% is expceted to continue to raise.

Don't postpone to buy home bcoz of higher mortagage rates.

@Sonu_Patel @dasari4kntr @r2d2 @psycopk @kevinUsa

 

https://fred.stlouisfed.org/series/MORTGAGE30US

 

https://infogram.com/1peg7nvdnl9e9qtm75ryenpw2msll1ewld0

 

[Sonu_Patel]

39 minutes ago, tyrion123 said:

mortagage rate was historical 18% in year 1981. It took 10 years to come to 10%.

20 years to 6 %.

40 years to come to 3%.

It is expected that current mortagage rate of 7.5% is expceted to continue to raise.

Don't postpone to buy home bcoz of higher mortagage rates.

@Sonu_Patel @dasari4kntr @r2d2 @psycopk @kevinUsa

 

https://fred.stlouisfed.org/series/MORTGAGE30US

 

https://infogram.com/1peg7nvdnl9e9qtm75ryenpw2msll1ewld0

 

 

Good for Cash buyers like me.

Higher Interest rate + More Inventory = Price Reduction

[lachi]

9 minutes ago, Sonu_Patel said:

 

Good for Cash buyers like me.

Higher Interest rate + More Inventory = Price Reduction

chala cash kaavali kada? 

[yemdoing]

1 hour ago, tyrion123 said:

mortagage rate was historical 18% in year 1981. It took 10 years to come to 10%.

20 years to 6 %.

40 years to come to 3%.

It is expected that current mortagage rate of 7.5% is expceted to continue to raise.

Don't postpone to buy home bcoz of higher mortagage rates.

@Sonu_Patel @dasari4kntr @r2d2 @psycopk @kevinUsa

 

https://fred.stlouisfed.org/series/MORTGAGE30US

 

https://infogram.com/1peg7nvdnl9e9qtm75ryenpw2msll1ewld0

 

minimum wage worker back then can buy a home which was just 3 or 4 times their annual salary. So 18% didn't matter then.

ippudu at least 10 times of annual salary of same minimum wage worker ki house ravadam kastam. 

[kevinUsa]

14 minutes ago, yemdoing said:

minimum wage worker back then can buy a home which was just 3 or 4 times their annual salary. So 18% didn't matter then.

ippudu at least 10 times of annual salary of same minimum wage worker ki house ravadam kastam. 

Silly fellow u cannot get down payment for minimum wage workers 

[yemdoing]

so data with actual facts.

avg house price in 1981 was 81K... Minimum wage worker salary is around $7k--- so 11 times of annual salary 

avg house price in 2024 is 530K.. minimum wage worker salary is around  $15k---35 times of annual salary

 

[yemdoing]

2 minutes ago, kevinUsa said:

Silly fellow u cannot get down payment for minimum wage workers 

ante ? they can't put down payment or they can't afford to put down payment ?

[kevinUsa]

18 minutes ago, yemdoing said:

ante ? they can't put down payment or they can't afford to put down payment ?

They don't make enough to. Put up for down payment leave alone the buying a house..