Let's figure. A $54,000 loan today at 5% would give you a payment of $289.88. That's quite a savings. For the payment of $562.82 you could purchase a $104,843 loan! And that's about what a $54,000 house would cost now! And the interest rates climbed on and on up! By the end of the 80's they were around 17% or more. Let's figure. A $54000 loan at 17% would be $769.86. YIKES!!! I'm … (11 comments)
Most of you can't remember interest at the low rate of 12.5%. Let's review this ad placed in a Homes for Living magazine in 1986.
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