For those who didn’t live thru it, remember late 70’s and most of 80’s 8.5% would have been a screaming bargain.
Personally started building a house in 81 using all cash and when we ran out of cash finally got a mortgage at 16.75% so it could get finished. All the time savings and loan keep saying wait wait rates have to go down, but the just kep going up.
With the FED and politicians trying to bail out, give to, finance, stimulate, etc. everything in sight there is only one way rates are going to go. Let me let you guess which way. So as per others comments inflation, interest rates and down payments will be significantly more important in the future and must be factored in.
