Mortgage interest rates have nearly tripled in the span of just a couple of years amid inflation fears and strong economic growth.

  • Hazdaz@lemmy.world
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    1 year ago

    7.48% is still a historically low mortgage rate. No one is going to care because everyone is all about the doom and gloom.

    • agitatedpotato@lemmy.dbzer0.com
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      1 year ago

      No, no one cares because real estate prices have shot up far far faster than rates have come down. The rate may be low historically, but in the years it’s been increasing, real estate price increases have outpaced it astronomically. Thanks to that you’re probably still paying more in interest overall compared to historical mortgages.

      • Hazdaz@lemmy.world
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        1 year ago

        No, because I’m not a dumbass who is looking to buy at one of the worst times in history all because of FOMO. My rate was locked in well before everyone just “had to” buy a house all of a sudden and before rates shot up.

        Any sane person will sit this one out, but that’s not what people will do. They’ll continue to buy and then be upside down for the next decade.