Quote:
Originally Posted by rat156
Interest rates were 18.5%!!!!!!
Cheers
Stuart
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Oh, I remember those days too. My interest rates hit 17% at their peak.
Although I owned the land outright (paid $10,000) I only had to borrow $21,000 to build the house. However, as much as I had to struggle to pay the mortgage, in those days, it was only a low mortgage, relative to today's mortgages.
Just imagine if interest rates hit 17% on the amount that you have to borrow today?
Cheers Peter