U.S. mortgage interest rates jump to 7.16%, highest since 2001

Re:U.S. mortgage interest rates jump to 7.16%, highest since... by avgDev on Wednesday October 26, 2022 @11:31AM (#33345260)

A credit union I used for my house which had competitive rates has very good rate for new auto loans. It is about 4.09% for 4-5 years.

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Re:U.S. mortgage interest rates jump to 7.16%, highest since... by post_break on Wednesday October 26, 2022 @11:36AM (#33345333)

I'm sorry are you saying 4.09% is a good rate? Anything 2% or lower is a good rate, my house was 4% back in 2019.

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Re:U.S. mortgage interest rates jump to 7.16%, highest since... by avgDev on Wednesday October 26, 2022 @11:40AM (#33345389)

Yes, I think 4% is still relatively low and a good rate. I would probably take out the loan to have that money invested in the market or bonds.

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Re:U.S. mortgage interest rates jump to 7.16%, highest since... by rocket_surgeron on Wednesday October 26, 2022 @11:53AM (#33345567)

In the context of banking and financing for the entirety of human history, 4.09% is fantastic, outstanding, amazing.

In the context of the last four years it is not. It is "merely" good.

I do not consider the last four years to be the foundation on which to start building assumptions.

Even in the context of the last four years, for auto loans 4.09% is only above average for about six of the last 48 months (Sept 2021 - Feb 2022).

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