Wikinvest Wire

Mortgage rates continue to rise

Thursday, June 04, 2009

It's funny to hear people talk about 30-year fixed rate mortgages at 5.3 percent with a cautionary tone, as in, "if they go much higher, the economic recovery is going to stall".

I remember refinancing years ago when these rates were coming down to 6 percent for the first time in decades. Little did anyone know they'd eventually go below 5 percent.


John S said...

I remember I nearly wet myself the first time I borrowed money at less then 20% interest. My first car loan was at 23%, toward the end of the Carter administration.

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