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Our home in Los Angeles was At 13% fixed...An we thought we did really well. A
Andrew Mooers | 207.53...
Nina Hollander, Broker
My first was a land contract for 18%, refinanced a few years later for 9.
Stevens Point, WI
Anthony Acosta - ALLAT...
First home - 6.75%
Highest rate - 17.9% plus 3 points for a 15 year fixed!
Highest 5.875. Lowest 3.5%.-Kasey
The mortgage interest rate was 6% when we purchased our first home.
Anthony Acosta - ALLAT...
It was over 20%. I don't know how we managed that!
Fred Griffin Florida R...
Andrew Mooers When I put a contract on my home the interest rate was 18% for a 30 year fixed rate. I purchased it with a VA loan. By the time we were about to close the rate came down to 12%. Just before our closing date, the rate dropped again at 9%. We locked it in and closed. A single digit interest rate was a godsend.
2.75% interest only.
All of mine are 4.25 or less. I have one in the 2% range.
My first home was 14.5% through a first-time buyers program. Rates where around 18 at the time.
I don't remember what the rates were in 1972....
My first home was at 6%. Later homes went as high as 13%.
My first mortgage was 14.75%!
Paid cash thereafter.
My first home was an assumption at 8%. Later, on my third home, I remember running to the bank to refi when the rate got down to 10%. Now it's 0%... free and clear.
My first was an ARM starting at 14.875% with a 6 point cap. My business loan was at 22%.
We paid 13% interest on our home. I thought I would choke, BUT we knew rates would come down and we'd refinance
Have never paid higher than maybe 6%. Until we moved to Charlotte, all our property was purchased for cash... top NYCity coops don't allow financing in many cases.
The mortgage interest rate was 7+/- when we purchased our first home.
Back in the late 80's I had a home with 17.9%, and that was with excellent credit!
Mine was 7%
10.6% fixed, for a co-op amd I thought I was doing well! Yes, ther were rates of 16%. I also remember Prime at 21%.
First house 9.5% then around 1980 16.5% now 4.25%
Our first potential started at 12%, and before we found one and closed it dropped to 4%
Lower Than That!
I think mine was 11%.
Highest ever was 8.5% APR for commercial property
I've been fortunate that all the homes I've bought over the years were 7% or lower.
I bought my first home just two years ago, so i do not have any history with personal mortgages... I hope, we are not going ever to 17%.
My first was an adjustable 11%, capped at 13%. I was excited when it dropped below 10% and I locked it in. Currently I pay 3.8% (+/-)
Andrew Mooers - I think it was 7.125%
Highest 13%, lowest 3%.
Mine was about 8% but I had a business loan at 25%
We bought when at was 6.5 % and my son in-law whose a mortgage broker refinanced for 3.5% back in 2000 and we paid the house off in 3 years!
My highest was 10% although i do use some hard money that has been 12% on a buy, fix and sell.
I've had 14%, 9% and 7% as high points. Paid cash a couple times too.
10.5% in 1979. I assigned that contract to a friend and got out of it.
I saw rates hit 16.5% in the early 80's. The joke at the time was, "buy the house with your Visa card; you will get a better interest rate".
I have been all over the place too...Adjustable is the worse
I believe it was around 16% in 1973 Andrew Mooers but then again my memory is fading.
I don't remember the first but at one point we had a rate of about 16%