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Tarvold

18,809 Posts.

1208

18/07/23

20:04

Post #: 68852236
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Originally posted by Staffyman: ↑

What is the justification in insinuating that mortgage rates have hit an all time high at 4.whatever it is, considering in the 80's it was at 17.5 to 18 percent the young of today have no idea and it would be fire sales every where as the banks would be foreclosing left right and centre as the mortgage crisis in America years ago was and back when interest rate where so high credit cards,After pay Zip Pay and all that cap was not thought of the Woke of today have no idea how to save and spend thrifty as our elders understood!View attachment 5444554

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Because the debts are massively higher than they were in the 80's due to higher property prices.
Mortgage payments are a factor of both the amount borrowed & interest rates.
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