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timwilky · 04-11-10, 08:26 AM

Alex

The mad rates didn't last too long, My mortgage hurt when it went to 15% but 2 years later it was back down, more importantly I had raised my payments when it went up, and never reduced them when it went down. Consequently I paid off my mortgage 8 years early.

So really your requirement should be based on the average annual mortgage rates applicable from 1980. I am sure the rates must be published somewhere. So not just a simple compound interest problem

04-11-10, 08:26 AM	#2
timwilky Member Mega Poster Join Date: Mar 2004 Location: Not in Yorkshire. (Thank God) Posts: 4,116	Re: 80's house prices & 15% interest.. Alex The mad rates didn't last too long, My mortgage hurt when it went to 15% but 2 years later it was back down, more importantly I had raised my payments when it went up, and never reduced them when it went down. Consequently I paid off my mortgage 8 years early. So really your requirement should be based on the average annual mortgage rates applicable from 1980. I am sure the rates must be published somewhere. So not just a simple compound interest problem __________________ Not Grumpy, opinionated.