[Schneed10]

Originally Posted by onlydarksets

30 year fixed rates in the 80s were awful, Schneed. My parents first mortgage in the DC area in 1981 was at 19%.
Interest Rate Trends ~ Historical Graphs for Mortgage Rates

Yeah that was the tail end of the mortgage crisis that spilled over from the 70s into the 80s. But under the Reagan administration rates moderated and, 20 years ago (1988) were back to very manageable levels, around 9-10%. Still higher than what we're used to today, but manageable.

Maybe he meant 25-30 years ago, because 20 years ago things were relatively good on that front.