Here in Canada my wife and I got 2.19% at the end of 2021.
Unfortunately the 1100 square foot condo we bought cost us 550k.
The Feds are raising interest rates to combat inflation. Now is not the time to borrow.
For the US, June 2023:
For a 30-year, fixed-rate mortgage, the average rate you’ll pay is 7.06%
The average rate for a 15-year, fixed mortgage is 6.46%
Damn, what country are you in? I bought at the tail end of the 2008 crash. Things were still low but, coming back up. I think I’m at 4.5%
My friends parents bought in 2007 and keep making terrible financial decisions so they can’t refinance. If I understood right their interest rate is 15% or something INSANE.
Romania. We are in the EU but not in the €urozone. We still use the local currency. For the same amount in € the rate is 6.40%. Total ripoff compared to the Northern/Western parts of the EU which is why I didn’t sign shit. They can go fuck themselves.
Poland here. Was quoted 2-3 months ago anywhere from 9.5% to 11.10%. Fixed rate for 5 years and then it would be updated to whatever the new rate will be.
I refused, gave up the purchase of a house till the prices will calm down (if ever), going to buy a boat to live aboard.