That was the silver lining in the Carter administration Homer, if one already owned a home and had a fair amount of savings__it was smooth sailing with CD rates exceeding 10% and six month jumbo CD's returning as high as 18%.Remember when you could money into a savings account and actually earn interest. Anyone else old enough to remember that?
Back then most existing home mortgages were fixed ranging in the 4.5% to 6.5% range and many were transferable with no qualification, what a beautiful fn thing that was. Well maybe not for realtors or mortgage brokers but it was for the hip homeowners.
Also__back then, closed meant closed in banking leaving Saturday's and Sunday's open to the imagination Hah. Many businesses that handled large amounts of money would transfer the money from checking into savings over the weekend just to pick up the interest.
I really enjoyed banking back when it was face to face.