Quote:
Originally Posted by _Q_
I think a lot of this "I just can't see interest rates going that high" sentiment is wishful thinking. A lot of us own homes on this board and most of us will probably have to come to the realization that we're getting screwed some way or another in the next 5 years or so.
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What do you mean "getting screwed"? Interest rates are at rock bottom levels, and have been for years. Everyone has been warning to expect higher rates one day. Well that day is coming. No one is getting "screwed" by rising interest rates, anymore than we are getting "screwed" by inflation. Everyone has been getting a sweet deal for so long, they forget this isn't normal. I think my first mortgage rate was around 5.5%.