How will you afford your home?
2007-11-23 10:10:07 · 15 answers · asked by Anonymous in Politics & Government ➔ Politics
I bought a home just after Carter left office and I paid 15 1/2%.
2007-11-23 10:13:56 · answer #1 · answered by Anonymous · 7⤊ 2⤋
Interest rates are set by the Fed Res, an independent body.
Many credit card rates are all well above that right now.
Nixon and Ford created the last era of super high interest rates, most likely it will be another repub to bring back high interest rates.
How much are we going to have to pay for the huge deficit spending by the repubs, coupled with the ludicrous lending
policies in the home mortgage market that has kept the U.S. economy barely floating for the past few years. The home mortgage crisis will haunt us for years. Conservatives love huge debt.
A democrat is our best chance to bring back some fiscal sanity to the Fed Gov.. Repubs have screwed things up so badly in the last several years, we will all probably have to pay somehow.
2007-11-23 18:25:26 · answer #2 · answered by poet1b 4 · 4⤊ 2⤋
My rate has been the same for the last ten years, and will be the same until I get the house paid off. We got our mortgage during the Clinton administration, 5.25%. It will be the same unless we do something stupid like refinancing.
2007-11-23 18:20:56 · answer #3 · answered by colder_in_minnesota 6 · 4⤊ 0⤋
Nothing is set in stone about interest rates, they are always changing. Notice how it has gone from 1% to 12% during this adminstion? It just depends on the market for oil, and the economy doing well. Not on who is elected. But that is true parties do influence trade policys, but not that deeply.
2007-11-23 18:15:24 · answer #4 · answered by Anonymous · 2⤊ 4⤋
When we purchased a Home under Carters reign we paid 22% interest. Our house payments were $2,100.a month not counting School and local taxes. That was under a Democratic reign. Ater 2 years we moved and bought under Reagans reign a home and paid a 7% rate.Truth is stranger than fiction.
2007-11-23 18:20:50 · answer #5 · answered by ♥ Mel 7 · 5⤊ 3⤋
It does not matter which party puts someone in office. You will find that Grumpy is partly right without knowing it. Read all 36 laws that make up the Patriot act and you will find that bush can do exactly the same thing the president of Pakistan did. And all it takes is janitor down at the City Hall to call you a "Domestic Terrorist" and they can arrest you, empty your house and bank accounts and make you a "nonperson".
Do not take my word on this! Read them your self or have a lawyer read them to you.
2007-11-23 18:20:11 · answer #6 · answered by James E Lewis AKA choteau 7 · 5⤊ 4⤋
No, maybe.
But if the Democrats take over as President & Congress, we will move very rapidly toward a Socialist/Communist Nation.
That has been the Real Goal of the Democrat Party, for decades.
Captured Terrorists will have plenty of Rights......but we won't have.
2007-11-23 18:18:49 · answer #7 · answered by dinamuk 4 · 3⤊ 5⤋
Of course for most credit cards. Otherwise the prime rate will be about the same or lower.
2007-11-23 18:22:04 · answer #8 · answered by Anonymous · 4⤊ 3⤋
Well the Dem's had it that high before. I believe during the Carter years.
I hope it never gets above 7%. Even at 5% I will actually pay 3 times what I borrrowed before my house is paid for.
But who knows, I am sure the dems haven't a clue.
2007-11-23 18:14:42 · answer #9 · answered by SFC_Ollie 7 · 4⤊ 5⤋
I suppose if you make up figures without citing a source it might. I'd say maybe interest rates will be 110% under Rudy. Good thing I'm voting Democrat in 08.
2007-11-23 18:14:15 · answer #10 · answered by Anonymous · 6⤊ 6⤋