When the world sends you lemons, make lemonade. Only good news is that mortgage rates are falling.

my first mortgage was over 10 percent!

Good for you, my Friend!

My first mortgage was Aug '82 and was 15.375% !!!

How long is the note on that?

My first was at 16%, now my house is paid for, just my luck.

My house mortgage was 5%.15 year mortgage accellerated - paid off in 11.

2.375%? What are the terms? fixed? How many years?

Nice Boco! We’re at 2.35% right now.

Charles more info would be great, 30yr? And who is the lender?

Yup both mortgage and refinance rates are awesome lately. I locked in at 3.36% 30yr fixed fixed last week. Got inspections done last week. Hopefully I close soon on my new house.

Oh man that's great ! In a year or two inflation could be greater than that ! Good for you !

Our first years were 9% then 13% and several years of 10%. I have borrowed more over the last 9 years and paid all of that off the average for these last home equity notes was 4.2% I am going back in again. No use pulling out depleted principle when one can get money at that low of a price. In another month most things are going to be selling for a lot less also.

Bryce

X2 !! Good plan

I know rates were pretty low a couple weeks ago but I missed it and there was a considerable bump last week they seem to be going down again, but my local credit union is still about 3.5%. Hoping to refi for 3.25 or less.

Today it was for a 15 Year Fixed Rate
- 2.375% with 0.5 discount points
- 2.5% with 0.0 discount points

We refied in December @3.75%, $600 simple closing, no lawyers, out the door on a 15 year fixed. Hope to have it done in 6 years. Could of got 3.25 for 15, $2400 closing with lawyer etc. money is cheap now!

15 fixed. Local bank in Asheville, NC