Submitted by Kindly_Boysenberry_7 t3_yfumj3 in rva
[deleted] t1_iu6vo9w wrote
[deleted]
Charlesinrichmond t1_iu735kc wrote
Without checking the numbers 7% is pretty close to a normal interest rate over the last hundred years.
The big issue is that prices jumped up on insanely low 3% money. At 7% the prices make much less sense but there is no obvious path to force sales. It's going to be really weird for a few years and very fascinating
Here's the last 50 years https://www.valuepenguin.com/mortgages/historical-mortgage-rates
Kindly_Boysenberry_7 OP t1_iu6zxwd wrote
Because that's what 30 year fixed is at RN.
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