I am going to tip my hand pretty quick here, and give away my age. But I was recently talking to a client's father and we were reminiscing about what kinds of interest rates we have paid on various homes we have owned throughout our lives. We both bought our first homes in the mid 80's when interest rates were in the double digits. When my husband and I purchased our first home in 1985 interest rates averaged 12.43%. However they were on the way down - in 1981 they had been averaging 16.63%! Wow, that … (5 comments)
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