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Reply to "Where will mortgage rates go in the next 1-2 years?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm way too nervous to do an ARM -- it's entirely possible that rates could stay in the 6-10% range for the next 10-20 years -- that's where they were from the 70s-90s while inflation was rampant for at least two decades![/quote] Inflation was not rampant for two decades. [/quote] Mortgage rates we above 7% from 1972-1992. With runaway inflation in the 70s leading to rates in the teens in the late 70s early 80s.[/quote] Inflation was rampant for like 3-4 years before Volcker tamed it, not 2 decades. Yes, rates were elevated for 2+ decades because it takes a long time to come down from 17% Fed funds rate. You can go from 17% to 4% in the course of 18 months. [/quote] You can’t*[/quote]
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