Put it this way...he was on the design committee for dirt.MY GOD MAN.............. HOW OLD ARE YOU???????????
When you guys refinance, make sure that you are picking up a substantively better rate, like Slug at 1.99 is amazing.
I say this because every refi resets your amortization table......you literally start paying all interest again for a period of years. Math will show you your best course, and of course someone with a 12% is going to be very interested in a 1.99%. Just saying.....do the math.
I say this because every refi resets your amortization table......you literally start paying all interest again for a period of years. Math will show you your best course, and of course someone with a 12% is going to be very interested in a 1.99%. Just saying.....do the math.
I'm not "older than dirt," but dirt calls me, "Sir."
18%? Seriously?
We built ours in '76 at 8.5%.
Yep, 18%. Interest rates were in a bubble for a few years and we got in right at the worst of it.
The CD rates were probably comparable. Those are the times you lock in a ten year CD,(if those are even offered). 18% on a $10,000 ten year CD would get you $52,338 if compounded annually.
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True. Simple bank savings accounts were drawing 10% interest or thereabouts.
Depending on how much you deposited, you could walk out of the bank with a toaster, blanket, etc. the banking business was hungry back then.
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