What did you pay in interest when you bought your home, was it 30 fixed and what year?

[LoveSpringsteen]

First mortgage was in september, 1996 and I can't recall the rate. I Googled and it appears the national average was between 7-8%. I don't remember it being that high, but ?? I do know we had to pay PMI for a few years. We've refinanced a few times since then and got rid of the PMI with the first refi.

We're currently at 3.19% APR with our last refinance in March, 2021. We're hoping to pay off the house in 2 years.

 

[Praying Colonel]

Our last refi was 2012. It was 15 year fixed at 3.25%.

 

[NotUrsula]

$79K in 1993 at I think around 7%. We double-paid it, and got rid of the mortgage in 2006 when my DH received a small inheritance, which was honestly a timely miracle because we both got laid off the following year and it took quite a while to find new jobs. It's tiny, but all ours.

We get frequent offers from agents looking for teardowns, but as I've told every single one of them: I'll sell it when you find me an equivalent home in an equivalent neighborhood that I can live in for $3500 ... a YEAR.

 

[cedricandsophie]

1984. 11% mortgage for 30 years. Refinanced after a few years to much lower interest rate. Paid off after about 15 years. Our house has gone up in value about 6 times what we paid for it.

 

[xdan0920]

Hmm, bought in 2016 at 4.125%

Refi in 2020 at 2.6%

THANK GOD I didn’t wait.

 

[dvcgirl67]

I don't know, the spike is alive and well here in California. Houses are still selling in hours after listing and for over asking. My son and DIL moved to Los Angeles County in July. Made a tidy profit on the 1,000 square foot house they sold in Sacramento. They have lost out on 3 hours down there. One of their offers was $80,000 over asking, the winning offer was $300,000 over asking! And that was two weeks ago

Yeah, well California will be the last market to cool off...seems it always is. I'm seeing forecasts for 6.5-7.0% for a 30 year by the end of the year. It will knock some buyers out...no doubt about it.