When we bought our house on West Gaywood in the early 1980's, we had a 14.5% interest rate with a 10 year balloon note. 4 years ago the interest rates were down in the 7%'s. I didn't think I'd ever see the day that interest rates would be back at a 1950-60's level but it happened. We finally got around to taking advantage of it and got a modifcation to our mortgage at 5.5%.
Comments (2)
I cannot imagine paying an interest rate like 14.5% on our mortgage. That is mind-boggling. Well done for going through the hassle to get your rate down.
Posted by Elizabeth | February 8, 2004 2:50 PM
Posted on February 8, 2004 14:50
Congratulations!
Posted by Rita | February 8, 2004 12:23 PM
Posted on February 8, 2004 12:23