Under Six!
Fixed-rate 30-year mortgages have fallen a hair under 6% for the first time in something like 40 years. MSNBC reported a 5.95% average rate.
Just by way of perspective: from 1880 to 1965 – 85 years – there was never such a thing in this country as a home mortgage at more than 6%. (And didn’t Hamurabi’s Code impose the death penalty for charging interest above 6%? My memory’s a little less clear on that one.)
So, far from being all but impossible, sub-6% mortgages are actually just the way things ‘always’ were.
Yet something tells me it won’t remain this way for 85 years this time. Not the worst opportunity to refinance – perhaps with a 15-year loan at a 5.7% rate.
Later this weekend or Monday: Andy learns to press clothes. (If he had ever learned to pack properly, he wouldn’t have needed to learn to press clothes.)
Quote of the Day
But what ... is it good for?
~Engineer at the Advanced Computing Systems Division of IBM, 1968, on the microchip.Search
Request email delivery
Recent Posts
- Feb 20:
And Yet You Still Don’t Turn The Lights Off When You Leave The Room - Feb 19:
Power Walking With Chris Christie - Feb 18:
The Inspiration YOU Need? - Feb 15:
NYC. UK. Canada. - Feb 14:
If Republican Officials Go To Prison . . . - Feb 13:
The National Butterfly Center Is Taking A Stand - Feb 12:
Home-Schooled For Christ. And Pence. - Feb 11:
Russian TV Thanks The GOP (And Don’t Miss Bill Maher) - Feb 9:
The Perfect Virginia Solution - Feb 8:
The Case For A Better Wealth Tax
- Feb 20: