this post was submitted on 12 Dec 2023
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Asklemmy
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I'm actually pretty happy with my mortgage. I got a good deal in 2013 and refinanced to a 15yr at 3.25% a couple years ago. It's the definition of "good debt" because inflation and my home's value has way out paced the interest.
Man, if I could've purchased a house in 2013 I would've. I was graduating high school though lol
I know I was super lucky. I look at home prices today and what it would take for me to get there and just shake my head.
I've given up. The interest rates are ridiculous, and home prices where I want to live (anywhere in the western USA pretty much) are insanely inflated.
There are some deals to be had, but you're buying in high crime and impoverished areas or in rural areas and you have to hope development will follow.
OMG. I got 8.95% for a 25yr mortgage and it was an awesome deal. Market was about 13.5%. Your numbers are really just free money from where am standing.