Talked to my uncle about his 1987 mortgage rate

He bought his place in Akron for $62,000 and his rate was over 10%. I've been stressing about getting a 6.5% loan, but hearing that number from someone who actually paid it for 30 years put things in a different light. It didn't make the market less crazy, but it made the number itself feel less scary. Anyone else have a family story that changed how you look at the numbers?

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matthew_owens96mo ago

But wasn't his salary way lower back then too? The actual monthly payment compared to income is what really matters. Does knowing his rate actually help with your budget today?

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felix_jones6mo ago

Comparing old rates is pointless, just focus on what you can actually afford now.

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