[TomGuy]

Sounds ominous, except that a 5%-6% interest/mortgage rate was historically considered 'the norm' going into the Carter years and 8%-10% was 'the norm' until the GWB real estate crisis that shrank interest/mortgage rates to historically low levels.

1920-34 near 6% mortgage average¹
1935-45 just under 4.5% mortgage average¹
1960 - 5.1% mortgage average²
1971 - 7.3% mortgage average¹
1980 - 13.7% mortgage average²
1981 - 16.6% to 18.45% mortgage average²
1990 - 10.1% mortgage average²
2000 - 8.1% mortgage average²
2010 - 4.7% mortgage average²
2020 - 3.1% mortgage average²

7.74% is the long term average³

7.69% is the mortgage rate this morning on realtor.com.

sources:

¹Mortgage Rate History: Check Out These Charts from the Early 1900s

²Here's how much home prices have risen since 1950

³Kiplinger: The Magic Mortgage Rate Number to Tip the Housing Market

historic CPI Inflation calculator

[pepsionice]

One thing that accompanies this....in the high period...CD rates were in the 8 to 12 percent range.

My dad would discuss this at length, how he locked in $50k for five years...at 13-percent...around 1980.