[politicket]

I paid 7 5/8 interest on my house in the late 90's and thought that the interest rate was pretty good.

People have short memories. Look up the Jimmy Carter years if you want to see high interest rates.

[Freedom_Is_Not_Free]

The economic crisis can’t end until houses stop falling in price, which can’t happen until inventories come back to earth. Higher interest rates and tighter credit mean it will take longer for housing to bottom and for this crisis to end. Higher interest rates make it more difficult to clear out the existing inventory and prolong the crisis. It will take a good long time to clear out the housing overhang anyway, but higher rates will only increase that duration and draw out the economic crisis.

[RGSpincich]

People have short memories. Look up the Jimmy Carter years if you want to see high interest rates.

I had a much sought after loan at 16% all lined up. At the last minute it got bumped half a point and I had to walk.