In Case You've Wondered

My blog is where my wandering thoughts are interspersed with stuff I made up. So, if while reading you find yourself confused about the context, don't feel alone. I get confused, too.

If you're here for the stories, I started another blog:

One other thing: sometimes I write words you refuse to use in front of children, or polite company, unless you have a flat tire, or hit your thumb with a hammer.

I don't use them to offend; I use them to embellish.

Friday, February 23, 2024

The Reality

 In 2021, the 30 year fixed rate mortgage interest rate was 3.15% to those with good credit. Today, the fixed interest on a 30 year mortgage is 6.9%.  Here is the difference for a $350,000 home:

3.15% interest loan - $191,468.47 total interest with a $1504.08 monthly note.

6.9% interest loan - $479,836.17 total interest with a $2305.10 monthly note. 

That's the reality of the current difference facing home buyers just now being exposed to the home market. Even those that can afford the cost will hesitate before buying, and those in real estate may find their annual revenue will decrease dramatically this year. For those that are willing to finance, and are not beholding to large banking interests, offering a lower rate can yield a long term profit for their long as it all doesn't hit the fan.


  1. That's the reason the house next door has been for sale for half a year now - the upped the price 40% when the interest rates went up. Too late . . .

    1. It's a tough market for those needing to sell a home. Back in the Carter days, many just decided they could get by with what they had and refused to pay higher interest rates.

  2. I did a refi in 2022 and locked in at 2.99%

    1. You may never see that good rate again. I'd never seen mortgage rates that low in my 6 decades of life.