Federal Funds Target Rates

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COSteve
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Federal Funds Target Rates

Post by COSteve »

For those of you who aren't old enough to have worried about buying a home in the 70's and 80's and/or think that today's key benchmark federal funds rate at a range of 5% to 5.25% is very high, take a look at this historical graph of the rates since 1954.

It's clear by the graph that since that time, the rate has been at or higher than it is today for much of the past 69 yrs.

Many of us more 'seasoned' members remember thinking we were fortunate when we got a conforming 30 yr. fixed rate mortgage for "only" 9.0%!!!

Federal Funds Target Rates.jpg
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Griff
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Re: Federal Funds Target Rates

Post by Griff »

And if we had more than two brain cells that connected we've re-financed since then... maybe more'n 2 or 3 times!!!
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vancelw
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Re: Federal Funds Target Rates

Post by vancelw »

yet, us "Boomers" ruined the world for all the youngsters :roll:

Cheapest home interest I ever paid was 8.5%.
This house will rot down around me before I buy another (unless the next tornado is more accurate in it's attempt!)

Gas was 1.25 a gallon when I graduated high school and minimum wage was 2.85. Took an hours wage to get to town and back for work.
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rossim92
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Re: Federal Funds Target Rates

Post by rossim92 »

COSteve wrote: Wed May 03, 2023 3:38 pm For those of you who aren't old enough to have worried about buying a home in the 70's and 80's and/or think that today's key benchmark federal funds rate at a range of 5% to 5.25% is very high, take a look at this historical graph of the rates since 1954.

It's clear by the graph that since that time, the rate has been at or higher than it is today for much of the past 69 yrs.

Many of us more 'seasoned' members remember thinking we were fortunate when we got a conforming 30 yr. fixed rate mortgage for "only" 9.0%!!!


Federal Funds Target Rates.jpg
when i built my house in 95 the interest rate was 9% i got it for 8.5 % , being a first time home builder. when points dropped 2 or moe i refinanced. paid offa 20 year note in 13 years
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Gobblerforge
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Re: Federal Funds Target Rates

Post by Gobblerforge »

I bought mt first house in 1983, after my trailer, at a rate of 13.5%. It drove the property values down enough that I could buy one. Two years later refinanced at about 8 or 9. Later refinanced again. Don't remember the numbers.
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pshort
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Re: Federal Funds Target Rates

Post by pshort »

Howdy Folks,
Two years ago, I got lucky, I refinanced for 3% ..............
It must be up to 8 or 9% again ...........

Paul
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fortress of a rebel soul"
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