HIGH INTEREST RATES-YA' KIDDING ME!

        I do have to chuckle a bit when I see or read anything about the fear of interest rates going higher and the effect it has on the stock market and so on. First of all, however you slice it, the interest rates have been way below 5 % for some time. 

        I don't intend to get into all the advantages or dis-advantages to all this, but, just a comparison during my lifetime. When I was a young man just out of college and buying my first home the interest rates for a home mortgage were around 7%. When I took out my mortgage  in 1968, I knew that the rates would probably go down. Wrong!

           By the time I had bought my second home in 1976 the mortgage rate had increased to 9%.
Then during the early 1980's with a huge recession and farm crisis going on, the mortgage rate had increased to 11% range. During that time when I was still selling real estate in the West Des Moines area, I had a sale on a Townhome that the rate ended up being 15% by the time the buyer finalized the sale. 

          Needless to say there weren't many sales at that time. And, I think there have been times in our Country's history when interest rates were even higher. I also know that "what you don't know won't hurt you!" People today buying homes, at least, should "Thank there lucky stars!" Maybe not so much on your savings.